ED vs NTAP: Correlation
Consolidated Edison (ED) and NetApp (NTAP) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and NTAP?
Across a 3-year window, the weekly returns of ED and NTAP correlate at -0.26, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.34 over 1 year against -0.26 over 3. Stretching to 5 years gives -0.11, with an annualized covariance of -158.9 %².
Within ED's tracked universe of 105 assets, NTAP comes in at #80 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NTAP ahead by 62.8 points (+10.2% versus +73.0%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.49 to 0.05. One caveat on sizing: NTAP is 2.3 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 NTAP: side by side
| ED (Consolidated Edison) | NTAP (NetApp) | |
|---|---|---|
| 1-year return | +10.2% | +73.0% |
| 5-year return | +67.5% | +141.7% |
| Volatility (ann.) | 16.5% | 37.6% |
| Beta vs S&P 500 | -0.21 | 1.38 |
| Max drawdown (3Y) | -17.4% | -42.6% |
| Market cap | $39.5B | $37.4B |
| P/E (trailing) | 17.5 | 30.5 |
| Dividend yield | 3.22% | 1.07% |
| Sector / category | Utilities | Information Technology |
Year-by-year returns
| Year | ED | NTAP |
|---|---|---|
| 2022 | +15.7% | -32.9% |
| 2023 | -1.1% | +51.1% |
| 2024 | +1.5% | +34.2% |
| 2025 | +15.1% | -5.9% |
| 2026 | +10.1% | +80.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and NTAP good diversifiers for each other?
Yes. With a correlation of -0.26, ED and NTAP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ED and NTAP?
As of 2026-08-27, the correlation of weekly returns between ED and NTAP is -0.26 over 3 years, -0.34 over 1 year and -0.11 over 5 years.
Is NTAP a good diversifier for ED?
Yes. With a correlation of -0.26, ED and NTAP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
A reading of -0.26 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-ntap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ed-vs-ntap/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ED correlations · NTAP correlations
