ED vs MU: Correlation
Consolidated Edison (ED) and Micron Technology (MU) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and MU?
Over the past 3 years, ED and MU moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.23) sits close to the 3-year figure. Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -192.3 %².
Within ED's tracked universe of 105 assets, MU comes in at #36 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MU ahead by 685.5 points (+10.2% versus +695.7%). The rolling one-year correlation moved between -0.31 and -0.01 over the past three years, a moderate range. Note the risk asymmetry: MU runs 3.8 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 MU: side by side
| ED (Consolidated Edison) | MU (Micron Technology) | |
|---|---|---|
| 1-year return | +10.2% | +695.7% |
| 5-year return | +67.5% | +1211.2% |
| Volatility (ann.) | 16.5% | 63.3% |
| Beta vs S&P 500 | -0.21 | 2.47 |
| Max drawdown (3Y) | -17.4% | -57.6% |
| Market cap | $39.5B | – |
| P/E (trailing) | 17.5 | 21.2 |
| Dividend yield | 3.22% | 0.06% |
| Sector / category | Utilities | Information Technology |
Year-by-year returns
| Year | ED | MU |
|---|---|---|
| 2022 | +15.7% | -45.9% |
| 2023 | -1.1% | +71.9% |
| 2024 | +1.5% | -1.0% |
| 2025 | +15.1% | +240.2% |
| 2026 | +10.1% | +227.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and MU good diversifiers for each other?
Yes. With a correlation of -0.18, ED and MU have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ED and MU?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.23 over the last year and -0.11 over 5 years.
Is MU a good diversifier for ED?
Yes. With a correlation of -0.18, ED and MU have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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-mu.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ed-vs-mu/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ED correlations · MU correlations
