ED vs SYF: Correlation
How closely do Consolidated Edison (ED) and Synchrony Financial (SYF) trade together? Their weekly returns over three years give a correlation of -0.15, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and SYF?
Across a 3-year window, the weekly returns of ED and SYF correlate at -0.15, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.36 versus -0.15 over 3 years. Stretching to 5 years gives -0.10, with an annualized covariance of -76.2 %².
By 3-year correlation, SYF places #26 of the 105 assets tracked against ED. Twelve-month performance is nearly a tie, at +10.2% for ED and +7.3% for SYF. This link changes with the market regime, having swung between -0.58 and 0.30 on a rolling one-year basis. One caveat on sizing: SYF is 1.9 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 SYF: side by side
| ED (Consolidated Edison) | SYF (Synchrony Financial) | |
|---|---|---|
| 1-year return | +10.2% | +7.3% |
| 5-year return | +67.5% | +81.0% |
| Volatility (ann.) | 16.5% | 31.6% |
| Beta vs S&P 500 | -0.21 | 1.28 |
| Max drawdown (3Y) | -17.4% | -37.7% |
| Market cap | $39.5B | $26.0B |
| P/E (trailing) | 17.5 | 8.2 |
| Dividend yield | 3.22% | 1.50% |
| Sector / category | Utilities | Financials |
Year-by-year returns
| Year | ED | SYF |
|---|---|---|
| 2022 | +15.7% | -27.4% |
| 2023 | -1.1% | +19.8% |
| 2024 | +1.5% | +74.0% |
| 2025 | +15.1% | +30.6% |
| 2026 | +10.1% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and SYF good diversifiers for each other?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ED and SYF?
Using weekly returns as of 2026-08-27: -0.15 over 3 years, with -0.36 over the last year and -0.10 over 5 years.
Is SYF a good diversifier for ED?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.15 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ed-vs-syf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ed-vs-syf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ED correlations · SYF correlations
