ED vs OXBR: Correlation
How closely do Consolidated Edison (ED) and Oxbridge Re Holdings Limited (OXBR) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and OXBR?
Over the past 3 years, ED and OXBR moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.11 over 1 year against -0.20 over 3. Over 5 years the correlation is -0.02, and the annualized covariance of weekly returns is -290.6 %².
By 3-year correlation, OXBR places #50 of the 105 assets tracked against ED. Correlation aside, the last 12 months split them widely, with ED ahead by 50.6 points (+10.2% versus -40.4%). Note the risk asymmetry: OXBR runs 5.4 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 OXBR: side by side
| ED (Consolidated Edison) | OXBR (Oxbridge Re Holdings Limited) | |
|---|---|---|
| 1-year return | +10.2% | -40.4% |
| 5-year return | +67.5% | -58.6% |
| Volatility (ann.) | 16.5% | 88.3% |
| Beta vs S&P 500 | -0.21 | 1.20 |
| Max drawdown (3Y) | -17.4% | -87.5% |
| Market cap | $39.5B | – |
| P/E (trailing) | 17.5 | 63.5 |
| Dividend yield | 3.22% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | ED | OXBR |
|---|---|---|
| 2022 | +15.7% | -78.6% |
| 2023 | -1.1% | -8.3% |
| 2024 | +1.5% | +274.6% |
| 2025 | +15.1% | -68.0% |
| 2026 | +10.1% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and OXBR good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between ED and OXBR?
As of 2026-08-27, the correlation of weekly returns between ED and OXBR is -0.20 over 3 years, -0.11 over 1 year and -0.02 over 5 years.
Is OXBR a good diversifier for ED?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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.
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Related comparisons
Hubs: ED correlations · OXBR correlations
