ED vs UBER: Correlation
Consolidated Edison (ED) and Uber (UBER) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and UBER?
Over the past 3 years, ED and UBER moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.33) than the 3-year average (-0.22). Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -133.8 %².
Within ED's tracked universe of 105 assets, UBER comes in at #62 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ED ahead by 29.5 points (+10.2% versus -19.3%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.45 and 0.15 over the past three years, so this pair behaves very differently depending on the market environment. One caveat on sizing: UBER is 2.2 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 UBER: side by side
| ED (Consolidated Edison) | UBER (Uber) | |
|---|---|---|
| 1-year return | +10.2% | -19.3% |
| 5-year return | +67.5% | +94.4% |
| Volatility (ann.) | 16.5% | 36.7% |
| Beta vs S&P 500 | -0.21 | 1.34 |
| Max drawdown (3Y) | -17.4% | -34.1% |
| Market cap | $39.5B | $157.2B |
| P/E (trailing) | 17.5 | 17.2 |
| Dividend yield | 3.22% | 0.00% |
| Sector / category | Utilities | Industrials |
Year-by-year returns
| Year | ED | UBER |
|---|---|---|
| 2022 | +15.7% | -41.0% |
| 2023 | -1.1% | +149.0% |
| 2024 | +1.5% | -2.0% |
| 2025 | +15.1% | +35.5% |
| 2026 | +10.1% | -5.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and UBER good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between ED and UBER?
As of 2026-08-27, the correlation of weekly returns between ED and UBER is -0.22 over 3 years, -0.33 over 1 year and -0.09 over 5 years.
Is UBER a good diversifier for ED?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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-uber.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ed-vs-uber/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ED correlations · UBER correlations
