ED vs SPYG: Correlation
How closely do Consolidated Edison (ED) and SPDR Portfolio S&P 500 Growth ETF (SPYG) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and SPYG?
On 3 years of weekly data the ED/SPYG correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.45 versus -0.32 over 3 years. The 5-year figure is 0.00, and annualized covariance runs at -99.3 %².
Out of 105 assets tracked against ED, SPYG lands near the bottom at #101. On 12-month performance SPYG holds a 12.2-point edge, +10.2% against +22.4%. The relationship is regime-dependent: the rolling one-year correlation swung between -0.45 and 0.22 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 SPYG: side by side
| ED (Consolidated Edison) | SPYG (SPDR Portfolio S&P 500 Growth ETF) | |
|---|---|---|
| 1-year return | +10.2% | +22.4% |
| 5-year return | +67.5% | +85.9% |
| Volatility (ann.) | 16.5% | 18.9% |
| Beta vs S&P 500 | -0.21 | 1.25 |
| Max drawdown (3Y) | -17.4% | -22.1% |
| Market cap | $39.5B | – |
| P/E (trailing) | 17.5 | – |
| Dividend yield | 3.22% | 0.49% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $52.2B |
| Sector / category | Utilities | ETF · US Style |
SPYG is a Large Growth fund from State Street Investment Management: $52.2B under management, 148 holdings, a 0.04% expense ratio, a 0.49% trailing dividend yield.
Year-by-year returns
| Year | ED | SPYG |
|---|---|---|
| 2022 | +15.7% | -29.4% |
| 2023 | -1.1% | +30.0% |
| 2024 | +1.5% | +36.0% |
| 2025 | +15.1% | +22.1% |
| 2026 | +10.1% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and SPYG good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ED and SPYG?
As of 2026-08-27, the correlation of weekly returns between ED and SPYG is -0.32 over 3 years, -0.45 over 1 year and 0.00 over 5 years.
Is SPYG a good diversifier for ED?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 mean?
A reading of -0.32 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-spyg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ed-vs-spyg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ED correlations · SPYG correlations
