ED vs FTS: Correlation
Consolidated Edison (ED) and Fortis Inc. (FTS) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and FTS?
Over the past 3 years, ED and FTS moved with a correlation of 0.69, which is strong. The link has tightened recently: the 1-year correlation (0.81) runs above the 3-year figure (0.69). Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 164.9 %².
By 3-year correlation, FTS places #13 of the 105 assets tracked against ED. Neither side won the trailing year by much: +10.2% against +12.4%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ED vs FTS: side by side
| ED (Consolidated Edison) | FTS (Fortis Inc.) | |
|---|---|---|
| 1-year return | +10.2% | +12.4% |
| 5-year return | +67.5% | +43.4% |
| Volatility (ann.) | 16.5% | 14.6% |
| Beta vs S&P 500 | -0.21 | 0.04 |
| Max drawdown (3Y) | -17.4% | -11.6% |
| Market cap | $39.5B | $28.0B |
| P/E (trailing) | 17.5 | 22.5 |
| Dividend yield | 3.22% | 4.58% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | ED | FTS |
|---|---|---|
| 2022 | +15.7% | -13.9% |
| 2023 | -1.1% | +7.0% |
| 2024 | +1.5% | +5.4% |
| 2025 | +15.1% | +28.5% |
| 2026 | +10.1% | +8.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and FTS good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ED and FTS?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.81 over the last year and 0.70 over 5 years.
Is FTS a good diversifier for ED?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 mean?
A reading of 0.69 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ed-vs-fts.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ed-vs-fts/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ED correlations · FTS correlations
