ED vs SNPS: Correlation
How closely do Consolidated Edison (ED) and Synopsys (SNPS) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and SNPS?
Across a 3-year window, the weekly returns of ED and SNPS correlate at -0.23, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. Stretching to 5 years gives -0.09, with an annualized covariance of -158.3 %².
By 3-year correlation, SNPS places #67 of the 105 assets tracked against ED. Their recent paths diverged sharply: over the last 12 months ED outperformed by 33.1 percentage points (+10.2% for ED against -22.9% for SNPS). Across three years, the rolling one-year figure varied moderately, from -0.48 to -0.05. Risk is not evenly split, since SNPS carries 2.6 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 SNPS: side by side
| ED (Consolidated Edison) | SNPS (Synopsys) | |
|---|---|---|
| 1-year return | +10.2% | -22.9% |
| 5-year return | +67.5% | +39.1% |
| Volatility (ann.) | 16.5% | 42.2% |
| Beta vs S&P 500 | -0.21 | 1.57 |
| Max drawdown (3Y) | -17.4% | -42.3% |
| Market cap | $39.5B | $89.1B |
| P/E (trailing) | 17.5 | 71.4 |
| Dividend yield | 3.22% | 0.00% |
| Sector / category | Utilities | Information Technology |
Year-by-year returns
| Year | ED | SNPS |
|---|---|---|
| 2022 | +15.7% | -13.4% |
| 2023 | -1.1% | +61.3% |
| 2024 | +1.5% | -5.7% |
| 2025 | +15.1% | -3.2% |
| 2026 | +10.1% | -1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and SNPS good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between ED and SNPS?
As of 2026-08-27, the correlation of weekly returns between ED and SNPS is -0.23 over 3 years, -0.25 over 1 year and -0.09 over 5 years.
Is SNPS a good diversifier for ED?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ED correlations · SNPS correlations
