ED vs TSLA: Correlation
Measured on weekly returns over the past three years, Consolidated Edison (ED) and Tesla, Inc. (TSLA) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and TSLA?
Across a 3-year window, the weekly returns of ED and TSLA correlate at -0.18, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.29) runs below the 3-year figure (-0.18). Stretching to 5 years gives -0.01, with an annualized covariance of -159.6 %².
By 3-year correlation, TSLA places #37 of the 105 assets tracked against ED. The trailing year gives ED the advantage: +10.2% versus +1.5%, a 8.7-point spread. The rolling one-year correlation moved between -0.34 and 0.05 over the past three years, a moderate range. One caveat on sizing: TSLA is 3.3 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 TSLA: side by side
| ED (Consolidated Edison) | TSLA (Tesla, Inc.) | |
|---|---|---|
| 1-year return | +10.2% | +1.5% |
| 5-year return | +67.5% | +45.6% |
| Volatility (ann.) | 16.5% | 53.9% |
| Beta vs S&P 500 | -0.21 | 1.87 |
| Max drawdown (3Y) | -17.4% | -53.8% |
| Market cap | $39.5B | $1,401.3B |
| P/E (trailing) | 17.5 | 322.6 |
| Dividend yield | 3.22% | 0.00% |
| Sector / category | Utilities | Consumer Discretionary |
Year-by-year returns
| Year | ED | TSLA |
|---|---|---|
| 2022 | +15.7% | -65.0% |
| 2023 | -1.1% | +101.7% |
| 2024 | +1.5% | +62.5% |
| 2025 | +15.1% | +11.4% |
| 2026 | +10.1% | -21.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and TSLA good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between ED and TSLA?
The ED/TSLA correlation stands at -0.18 on a 3-year window (1 year: -0.29, 5 years: -0.01), computed from weekly returns as of 2026-08-27.
Is TSLA a good diversifier for ED?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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-tsla.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ed-vs-tsla/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ED correlations · TSLA correlations
