ED vs HOOD: Correlation
Consolidated Edison (ED) and Robinhood Markets (HOOD) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and HOOD?
Over the past 3 years, ED and HOOD moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.38) runs below the 3-year figure (-0.25). Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -294.7 %².
Among the 105 assets we track against ED, HOOD ranks #76 by 3-year correlation. Their 12-month results are close: +10.2% for ED against +6.6% for HOOD. This link changes with the market regime, having swung between -0.42 and 0.24 on a rolling one-year basis. One caveat on sizing: HOOD is 4.3 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 HOOD: side by side
| ED (Consolidated Edison) | HOOD (Robinhood Markets) | |
|---|---|---|
| 1-year return | +10.2% | +6.6% |
| 5-year return | +67.5% | +151.5% |
| Volatility (ann.) | 16.5% | 71.4% |
| Beta vs S&P 500 | -0.21 | 2.88 |
| Max drawdown (3Y) | -17.4% | -57.3% |
| Market cap | $39.5B | $98.7B |
| P/E (trailing) | 17.5 | 48.1 |
| Dividend yield | 3.22% | 0.00% |
| Sector / category | Utilities | Financials |
Year-by-year returns
| Year | ED | HOOD |
|---|---|---|
| 2022 | +15.7% | -54.2% |
| 2023 | -1.1% | +56.5% |
| 2024 | +1.5% | +192.5% |
| 2025 | +15.1% | +203.5% |
| 2026 | +10.1% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and HOOD good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between ED and HOOD?
The ED/HOOD correlation stands at -0.25 on a 3-year window (1 year: -0.38, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is HOOD a good diversifier for ED?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 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-hood.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ed-vs-hood/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ED correlations · HOOD correlations
