ED vs KLAC: Correlation
Consolidated Edison (ED) and KLA Corporation (KLAC) 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 KLAC?
Over the past 3 years, ED and KLAC moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.11 lands near the 3-year figure. Over 5 years the correlation is -0.05, and the annualized covariance of weekly returns is -125.9 %².
Among the 105 assets we track against ED, KLAC ranks #32 by 3-year correlation. Correlation aside, the last 12 months split them widely, with KLAC ahead by 97.7 points (+10.2% versus +107.9%). This link changes with the market regime, having swung between -0.50 and 0.04 on a rolling one-year basis. One caveat on sizing: KLAC is 2.8 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 KLAC: side by side
| ED (Consolidated Edison) | KLAC (KLA Corporation) | |
|---|---|---|
| 1-year return | +10.2% | +107.9% |
| 5-year return | +67.5% | +463.9% |
| Volatility (ann.) | 16.5% | 45.6% |
| Beta vs S&P 500 | -0.21 | 1.84 |
| Max drawdown (3Y) | -17.4% | -43.6% |
| Market cap | $39.5B | $240.1B |
| P/E (trailing) | 17.5 | 50.2 |
| Dividend yield | 3.22% | 0.44% |
| Sector / category | Utilities | Information Technology |
Year-by-year returns
| Year | ED | KLAC |
|---|---|---|
| 2022 | +15.7% | -11.2% |
| 2023 | -1.1% | +56.0% |
| 2024 | +1.5% | +9.4% |
| 2025 | +15.1% | +94.5% |
| 2026 | +10.1% | +51.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and KLAC good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ED and KLAC?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.11 over the last year and -0.05 over 5 years.
Is KLAC a good diversifier for ED?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 mean?
A reading of -0.17 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-klac.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ed-vs-klac/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ED correlations · KLAC correlations
