ED vs QQQM: Correlation
Consolidated Edison (ED) and Invesco Nasdaq 100 ETF (QQQM) show a negative relationship: their 3-year correlation of weekly returns is -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and QQQM?
Over the past 3 years, ED and QQQM moved with a correlation of -0.31, which is 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. Over 5 years the correlation is -0.01, and the annualized covariance of weekly returns is -98.6 %².
Within ED's tracked universe of 105 assets, QQQM comes in at #97 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QQQM ahead by 16.2 points (+10.2% versus +26.4%). 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 QQQM: side by side
| ED (Consolidated Edison) | QQQM (Invesco Nasdaq 100 ETF) | |
|---|---|---|
| 1-year return | +10.2% | +26.4% |
| 5-year return | +67.5% | +96.1% |
| Volatility (ann.) | 16.5% | 19.5% |
| Beta vs S&P 500 | -0.21 | 1.28 |
| Max drawdown (3Y) | -17.4% | -22.7% |
| Market cap | $39.5B | – |
| P/E (trailing) | 17.5 | – |
| Dividend yield | 3.22% | 0.46% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $97.1B |
| Sector / category | Utilities | ETF · US Growth & Tech |
QQQM is a Large Growth fund from Invesco: $97.1B under management, 105 holdings, a 0.15% expense ratio, a 0.46% trailing dividend yield.
Year-by-year returns
| Year | ED | QQQM |
|---|---|---|
| 2022 | +15.7% | -32.5% |
| 2023 | -1.1% | +55.0% |
| 2024 | +1.5% | +25.7% |
| 2025 | +15.1% | +20.9% |
| 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 QQQM good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ED and QQQM?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.42 over the last year and -0.01 over 5 years.
Is QQQM a good diversifier for ED?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 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-qqqm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ed-vs-qqqm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ED correlations · QQQM correlations
