ED vs JBL: Correlation
How closely do Consolidated Edison (ED) and Jabil (JBL) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and JBL?
Across a 3-year window, the weekly returns of ED and JBL correlate at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.12 lands near the 3-year figure. Stretching to 5 years gives -0.11, with an annualized covariance of -148.7 %².
By 3-year correlation, JBL places #61 of the 105 assets tracked against ED. Their recent paths diverged sharply: over the last 12 months JBL outperformed by 40.2 percentage points (+10.2% for ED against +50.4% for JBL). On a rolling one-year basis the correlation drifted between -0.40 and -0.11, a moderate band. Note the risk asymmetry: JBL runs 2.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 JBL: side by side
| ED (Consolidated Edison) | JBL (Jabil) | |
|---|---|---|
| 1-year return | +10.2% | +50.4% |
| 5-year return | +67.5% | +405.5% |
| Volatility (ann.) | 16.5% | 40.6% |
| Beta vs S&P 500 | -0.21 | 1.47 |
| Max drawdown (3Y) | -17.4% | -36.8% |
| Market cap | $39.5B | $32.7B |
| P/E (trailing) | 17.5 | 38.9 |
| Dividend yield | 3.22% | 0.10% |
| Sector / category | Utilities | Information Technology |
Year-by-year returns
| Year | ED | JBL |
|---|---|---|
| 2022 | +15.7% | -2.5% |
| 2023 | -1.1% | +87.4% |
| 2024 | +1.5% | +13.3% |
| 2025 | +15.1% | +58.7% |
| 2026 | +10.1% | +37.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and JBL good diversifiers for each other?
Yes. With a correlation of -0.22, ED and JBL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ED and JBL?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.12 over the last year and -0.11 over 5 years.
Is JBL a good diversifier for ED?
Yes. With a correlation of -0.22, ED and JBL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 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-jbl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ed-vs-jbl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ED correlations · JBL correlations
