ED vs QCOM: Correlation
Measured on weekly returns over the past three years, Consolidated Edison (ED) and Qualcomm (QCOM) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and QCOM?
Over the past 3 years, ED and QCOM moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.34) sits close to the 3-year figure. Over 5 years the correlation is -0.07, and the annualized covariance of weekly returns is -189.5 %².
By 3-year correlation, QCOM places #89 of the 105 assets tracked against ED. Their 12-month results are close: +10.2% for ED against +5.3% for QCOM. The relationship is regime-dependent: the rolling one-year correlation swung between -0.48 and 0.18 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: QCOM runs 2.6 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 QCOM: side by side
| ED (Consolidated Edison) | QCOM (Qualcomm) | |
|---|---|---|
| 1-year return | +10.2% | +5.3% |
| 5-year return | +67.5% | +25.8% |
| Volatility (ann.) | 16.5% | 42.4% |
| Beta vs S&P 500 | -0.21 | 1.77 |
| Max drawdown (3Y) | -17.4% | -44.2% |
| Market cap | $39.5B | $176.0B |
| P/E (trailing) | 17.5 | 18.9 |
| Dividend yield | 3.22% | 2.19% |
| Sector / category | Utilities | Information Technology |
Year-by-year returns
| Year | ED | QCOM |
|---|---|---|
| 2022 | +15.7% | -38.6% |
| 2023 | -1.1% | +35.1% |
| 2024 | +1.5% | +8.3% |
| 2025 | +15.1% | +13.8% |
| 2026 | +10.1% | -2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and QCOM good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between ED and QCOM?
As of 2026-08-27, the correlation of weekly returns between ED and QCOM is -0.27 over 3 years, -0.34 over 1 year and -0.07 over 5 years.
Is QCOM a good diversifier for ED?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
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
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Related comparisons
Hubs: ED correlations · QCOM correlations
