ED vs GOOG: Correlation
Measured on weekly returns over the past three years, Consolidated Edison (ED) and Alphabet Inc. (Class C) (GOOG) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and GOOG?
Over the past 3 years, ED and GOOG moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.42 lands near the 3-year figure. Over 5 years the correlation is -0.10, and the annualized covariance of weekly returns is -162.8 %².
By 3-year correlation, GOOG places #99 of the 105 assets tracked against ED. Their recent paths diverged sharply: over the last 12 months GOOG outperformed by 52.5 percentage points (+10.2% for ED against +62.7% for GOOG). The relationship is regime-dependent: the rolling one-year correlation swung between -0.42 and 0.09 over the past three years, so this pair behaves very differently depending on the market environment. One caveat on sizing: GOOG is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 GOOG: side by side
| ED (Consolidated Edison) | GOOG (Alphabet Inc. (Class C)) | |
|---|---|---|
| 1-year return | +10.2% | +62.7% |
| 5-year return | +67.5% | +134.2% |
| Volatility (ann.) | 16.5% | 31.1% |
| Beta vs S&P 500 | -0.21 | 1.20 |
| Max drawdown (3Y) | -17.4% | -29.4% |
| Market cap | $39.5B | $4,130.2B |
| P/E (trailing) | 17.5 | 17.0 |
| Dividend yield | 3.22% | 0.25% |
| Sector / category | Utilities | Communication Services |
Year-by-year returns
| Year | ED | GOOG |
|---|---|---|
| 2022 | +15.7% | -38.7% |
| 2023 | -1.1% | +58.8% |
| 2024 | +1.5% | +35.6% |
| 2025 | +15.1% | +65.4% |
| 2026 | +10.1% | +7.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and GOOG good diversifiers for each other?
Yes. With a correlation of -0.32, ED and GOOG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ED and GOOG?
The ED/GOOG correlation stands at -0.32 on a 3-year window (1 year: -0.42, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is GOOG a good diversifier for ED?
Yes. With a correlation of -0.32, ED and GOOG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 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-goog.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ed-vs-goog/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ED correlations · GOOG correlations
