ED vs ROK: Correlation
How closely do Consolidated Edison (ED) and Rockwell Automation (ROK) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and ROK?
Over the past 3 years, ED and ROK moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.30 lands near the 3-year figure. Over 5 years the correlation is 0.04, and the annualized covariance of weekly returns is -95.6 %².
Among the 105 assets we track against ED, ROK ranks #58 by 3-year correlation. The last year tells two different stories: ROK led by 15.5 percentage points, +10.2% for ED against +25.7% for ROK. This link changes with the market regime, having swung between -0.44 and 0.13 on a rolling one-year basis. Note the risk asymmetry: ROK runs 1.7 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 ROK: side by side
| ED (Consolidated Edison) | ROK (Rockwell Automation) | |
|---|---|---|
| 1-year return | +10.2% | +25.7% |
| 5-year return | +67.5% | +44.9% |
| Volatility (ann.) | 16.5% | 27.9% |
| Beta vs S&P 500 | -0.21 | 0.97 |
| Max drawdown (3Y) | -17.4% | -29.0% |
| Market cap | $39.5B | $48.2B |
| P/E (trailing) | 17.5 | 40.6 |
| Dividend yield | 3.22% | 1.26% |
| Sector / category | Utilities | Industrials |
Year-by-year returns
| Year | ED | ROK |
|---|---|---|
| 2022 | +15.7% | -24.8% |
| 2023 | -1.1% | +22.6% |
| 2024 | +1.5% | -6.2% |
| 2025 | +15.1% | +38.4% |
| 2026 | +10.1% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and ROK good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between ED and ROK?
The ED/ROK correlation stands at -0.21 on a 3-year window (1 year: -0.30, 5 years: 0.04), computed from weekly returns as of 2026-08-27.
Is ROK a good diversifier for ED?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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 · ROK correlations
