ED vs NVDA: Correlation
Consolidated Edison (ED) and Nvidia (NVDA) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and NVDA?
Across a 3-year window, the weekly returns of ED and NVDA correlate at -0.27, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.34 over 1 year against -0.27 over 3. Stretching to 5 years gives -0.09, with an annualized covariance of -201.2 %².
Within ED's tracked universe of 105 assets, NVDA comes in at #87 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NVDA outperformed by 15.5 percentage points (+10.2% for ED against +25.7% for NVDA). On a rolling one-year basis the correlation drifted between -0.35 and 0.05, a moderate band. Note the risk asymmetry: NVDA runs 2.7 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 NVDA: side by side
| ED (Consolidated Edison) | NVDA (Nvidia) | |
|---|---|---|
| 1-year return | +10.2% | +25.7% |
| 5-year return | +67.5% | +908.3% |
| Volatility (ann.) | 16.5% | 44.5% |
| Beta vs S&P 500 | -0.21 | 2.18 |
| Max drawdown (3Y) | -17.4% | -36.9% |
| Market cap | $39.5B | $5,505.0B |
| P/E (trailing) | 17.5 | 32.2 |
| Dividend yield | 3.22% | 0.00% |
| Sector / category | Utilities | Information Technology |
Year-by-year returns
| Year | ED | NVDA |
|---|---|---|
| 2022 | +15.7% | -50.3% |
| 2023 | -1.1% | +239.0% |
| 2024 | +1.5% | +171.2% |
| 2025 | +15.1% | +38.9% |
| 2026 | +10.1% | +22.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and NVDA good diversifiers for each other?
Yes. With a correlation of -0.27, ED and NVDA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ED and NVDA?
The ED/NVDA correlation stands at -0.27 on a 3-year window (1 year: -0.34, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is NVDA a good diversifier for ED?
Yes. With a correlation of -0.27, ED and NVDA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 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-nvda.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ed-vs-nvda/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ED correlations · NVDA correlations
