ED vs SOXX: Correlation
Measured on weekly returns over the past three years, Consolidated Edison (ED) and iShares Semiconductor ETF (SOXX) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and SOXX?
Across a 3-year window, the weekly returns of ED and SOXX correlate at -0.28, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.29 over 1 year against -0.28 over 3. Stretching to 5 years gives -0.08, with an annualized covariance of -159.7 %².
By 3-year correlation, SOXX places #90 of the 105 assets tracked against ED. The last year tells two different stories: SOXX led by 99.8 percentage points, +10.2% for ED against +110.0% for SOXX. Across three years, the rolling one-year figure varied moderately, from -0.41 to 0.07. One caveat on sizing: SOXX is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 SOXX: side by side
| ED (Consolidated Edison) | SOXX (iShares Semiconductor ETF) | |
|---|---|---|
| 1-year return | +10.2% | +110.0% |
| 5-year return | +67.5% | +247.5% |
| Volatility (ann.) | 16.5% | 35.2% |
| Beta vs S&P 500 | -0.21 | 1.93 |
| Max drawdown (3Y) | -17.4% | -41.4% |
| Market cap | $39.5B | – |
| P/E (trailing) | 17.5 | – |
| Dividend yield | 3.22% | 0.29% |
| Expense ratio | – | 0.33% |
| Assets under management | – | $44.7B |
| Sector / category | Utilities | ETF · Thematic |
On the fund side, SOXX sits in the Technology category at iShares, with $44.7B under management, 30 holdings, a 0.33% expense ratio, a 0.29% trailing dividend yield.
Year-by-year returns
| Year | ED | SOXX |
|---|---|---|
| 2022 | +15.7% | -35.1% |
| 2023 | -1.1% | +67.1% |
| 2024 | +1.5% | +12.9% |
| 2025 | +15.1% | +40.7% |
| 2026 | +10.1% | +74.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and SOXX good diversifiers for each other?
Yes. With a correlation of -0.28, ED and SOXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ED and SOXX?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.29 over the last year and -0.08 over 5 years.
Is SOXX a good diversifier for ED?
Yes. With a correlation of -0.28, ED and SOXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ed-vs-soxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ed-vs-soxx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ED correlations · SOXX correlations
