ED vs RDDT: Correlation
How closely do Consolidated Edison (ED) and Reddit (RDDT) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and RDDT?
Over the past 3 years, ED and RDDT moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.24 over 1 year against -0.24 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -301.2 %².
Within ED's tracked universe of 105 assets, RDDT comes in at #72 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ED ahead by 37.3 points (+10.2% versus -27.1%). The rolling one-year correlation stayed in a tight band between -0.35 and -0.21 over the past three years, which points to a structural rather than episodic relationship. Risk is not evenly split, since RDDT carries 4.6 times the volatility of the other side.
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 RDDT: side by side
| ED (Consolidated Edison) | RDDT (Reddit) | |
|---|---|---|
| 1-year return | +10.2% | -27.1% |
| 5-year return | +67.5% | n/a |
| Volatility (ann.) | 16.5% | 75.2% |
| Beta vs S&P 500 | -0.21 | 2.59 |
| Max drawdown (3Y) | -17.4% | -61.4% |
| Market cap | $39.5B | $29.6B |
| P/E (trailing) | 17.5 | 36.1 |
| Dividend yield | 3.22% | 0.00% |
| Sector / category | Utilities | Communication Services |
Year-by-year returns
| Year | ED | RDDT |
|---|---|---|
| 2022 | +15.7% | – |
| 2023 | -1.1% | – |
| 2024 | +1.5% | – |
| 2025 | +15.1% | +40.6% |
| 2026 | +10.1% | -33.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and RDDT good diversifiers for each other?
Yes. With a correlation of -0.24, ED and RDDT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ED and RDDT?
The ED/RDDT correlation stands at -0.24 on a 3-year window (1 year: -0.24, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is RDDT a good diversifier for ED?
Yes. With a correlation of -0.24, ED and RDDT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 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-rddt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ed-vs-rddt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ED correlations · RDDT correlations
