ED vs PPL: Correlation
Measured on weekly returns over the past three years, Consolidated Edison (ED) and PPL Corporation (PPL) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and PPL?
Across a 3-year window, the weekly returns of ED and PPL correlate at 0.72, strong. The relationship has been stable: the 1-year correlation (0.80) sits close to the 3-year figure. Stretching to 5 years gives 0.75, with an annualized covariance of 207.7 %².
By 3-year correlation, PPL places #9 of the 105 assets tracked against ED. The trailing year gives ED the advantage: +10.2% versus -3.0%, a 13.2-point spread. On a rolling one-year basis the correlation drifted between 0.56 and 0.84, a moderate band.
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 PPL: side by side
| ED (Consolidated Edison) | PPL (PPL Corporation) | |
|---|---|---|
| 1-year return | +10.2% | -3.0% |
| 5-year return | +67.5% | +41.1% |
| Volatility (ann.) | 16.5% | 17.4% |
| Beta vs S&P 500 | -0.21 | 0.13 |
| Max drawdown (3Y) | -17.4% | -13.3% |
| Market cap | $39.5B | $25.9B |
| P/E (trailing) | 17.5 | 20.7 |
| Dividend yield | 3.22% | 3.18% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | ED | PPL |
|---|---|---|
| 2022 | +15.7% | +0.4% |
| 2023 | -1.1% | -3.8% |
| 2024 | +1.5% | +24.0% |
| 2025 | +15.1% | +11.4% |
| 2026 | +10.1% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and PPL good diversifiers for each other?
To a limited degree. At 0.72 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ED and PPL?
As of 2026-08-27, the correlation of weekly returns between ED and PPL is 0.72 over 3 years, 0.80 over 1 year and 0.75 over 5 years.
Is PPL a good diversifier for ED?
To a limited degree. At 0.72 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.72 mean?
A reading of 0.72 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-ppl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ed-vs-ppl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ED correlations · PPL correlations
