ED vs GOOGL: Correlation
Consolidated Edison (ED) and Alphabet Inc. (Class A) (GOOGL) show a negative relationship: their 3-year correlation of weekly returns is -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and GOOGL?
Across a 3-year window, the weekly returns of ED and GOOGL correlate at -0.32, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.41 over 1 year against -0.32 over 3. Stretching to 5 years gives -0.10, with an annualized covariance of -166.0 %².
Among the 105 assets we track against ED, GOOGL ranks #100 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GOOGL ahead by 54.5 points (+10.2% versus +64.7%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.42 to 0.09. One caveat on sizing: GOOGL 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 GOOGL: side by side
| ED (Consolidated Edison) | GOOGL (Alphabet Inc. (Class A)) | |
|---|---|---|
| 1-year return | +10.2% | +64.7% |
| 5-year return | +67.5% | +137.7% |
| Volatility (ann.) | 16.5% | 31.4% |
| Beta vs S&P 500 | -0.21 | 1.22 |
| Max drawdown (3Y) | -17.4% | -29.8% |
| Market cap | $39.5B | $4,166.1B |
| P/E (trailing) | 17.5 | 17.2 |
| Dividend yield | 3.22% | 0.25% |
| Sector / category | Utilities | Communication Services |
Year-by-year returns
| Year | ED | GOOGL |
|---|---|---|
| 2022 | +15.7% | -39.1% |
| 2023 | -1.1% | +58.3% |
| 2024 | +1.5% | +36.0% |
| 2025 | +15.1% | +66.0% |
| 2026 | +10.1% | +9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and GOOGL good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ED and GOOGL?
The ED/GOOGL correlation stands at -0.32 on a 3-year window (1 year: -0.41, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is GOOGL a good diversifier for ED?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ed-vs-googl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ed-vs-googl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ED correlations · GOOGL correlations
