ED vs QQQ: Correlation
Measured on weekly returns over the past three years, Consolidated Edison (ED) and Invesco QQQ Trust (QQQ) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and QQQ?
On 3 years of weekly data the ED/QQQ correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.42 versus -0.31 over 3 years. The 5-year figure is -0.01, and annualized covariance runs at -99.1 %².
Among the 105 assets we track against ED, QQQ ranks #96 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 16.1 percentage points (+10.2% for ED against +26.3% for QQQ). The relationship is regime-dependent: the rolling one-year correlation swung between -0.44 and 0.18 over the past three years, so this pair behaves very differently depending on the market environment.
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 QQQ: side by side
| ED (Consolidated Edison) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +10.2% | +26.3% |
| 5-year return | +67.5% | +95.4% |
| Volatility (ann.) | 16.5% | 19.6% |
| Beta vs S&P 500 | -0.21 | 1.28 |
| Max drawdown (3Y) | -17.4% | -22.8% |
| Market cap | $39.5B | – |
| P/E (trailing) | 17.5 | – |
| Dividend yield | 3.22% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | Utilities | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | ED | QQQ |
|---|---|---|
| 2022 | +15.7% | -32.6% |
| 2023 | -1.1% | +54.9% |
| 2024 | +1.5% | +25.6% |
| 2025 | +15.1% | +20.8% |
| 2026 | +10.1% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and QQQ good diversifiers for each other?
Yes. With a correlation of -0.31, ED and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ED and QQQ?
The ED/QQQ correlation stands at -0.31 on a 3-year window (1 year: -0.42, 5 years: -0.01), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for ED?
Yes. With a correlation of -0.31, ED and QQQ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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 · QQQ correlations
