ED vs GM: Correlation
Consolidated Edison (ED) and General Motors (GM) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and GM?
On 3 years of weekly data the ED/GM correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.35 versus -0.17 over 3 years. The 5-year figure is 0.03, and annualized covariance runs at -88.4 %².
Within ED's tracked universe of 105 assets, GM comes in at #30 by 3-year correlation. The last year tells two different stories: GM led by 37.8 percentage points, +10.2% for ED against +48.0% for GM. This link changes with the market regime, having swung between -0.34 and 0.19 on a rolling one-year basis. Risk is not evenly split, since GM carries 2.0 times the volatility of the other side.
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 GM: side by side
| ED (Consolidated Edison) | GM (General Motors) | |
|---|---|---|
| 1-year return | +10.2% | +48.0% |
| 5-year return | +67.5% | +82.5% |
| Volatility (ann.) | 16.5% | 32.2% |
| Beta vs S&P 500 | -0.21 | 0.98 |
| Max drawdown (3Y) | -17.4% | -29.1% |
| Market cap | $39.5B | $77.9B |
| P/E (trailing) | 17.5 | 38.6 |
| Dividend yield | 3.22% | 0.76% |
| Sector / category | Utilities | Consumer Discretionary |
Year-by-year returns
| Year | ED | GM |
|---|---|---|
| 2022 | +15.7% | -42.4% |
| 2023 | -1.1% | +7.9% |
| 2024 | +1.5% | +49.8% |
| 2025 | +15.1% | +54.2% |
| 2026 | +10.1% | +6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and GM good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between ED and GM?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.35 over the last year and 0.03 over 5 years.
Is GM a good diversifier for ED?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ed-vs-gm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ed-vs-gm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ED correlations · GM correlations
