ED vs VOO: Correlation
Measured on weekly returns over the past three years, Consolidated Edison (ED) and Vanguard S&P 500 ETF (VOO) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and VOO?
Across a 3-year window, the weekly returns of ED and VOO correlate at -0.19, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.36) than the 3-year average (-0.19). Stretching to 5 years gives 0.12, with an annualized covariance of -44.4 %².
By 3-year correlation, VOO places #41 of the 105 assets tracked against ED. The trailing year gives VOO the advantage: +10.2% versus +20.6%, a 10.4-point spread. The relationship is regime-dependent: the rolling one-year correlation swung between -0.39 and 0.29 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 VOO: side by side
| ED (Consolidated Edison) | VOO (Vanguard S&P 500 ETF) | |
|---|---|---|
| 1-year return | +10.2% | +20.6% |
| 5-year return | +67.5% | +83.0% |
| Volatility (ann.) | 16.5% | 14.4% |
| Beta vs S&P 500 | -0.21 | 0.99 |
| Max drawdown (3Y) | -17.4% | -18.7% |
| Market cap | $39.5B | – |
| P/E (trailing) | 17.5 | – |
| Dividend yield | 3.22% | 1.07% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $1,686.9B |
| Sector / category | Utilities | ETF · US Large Cap |
VOO, Vanguard's Large Blend fund, carries $1,686.9B under management, 503 holdings, a 0.03% expense ratio, a 1.07% trailing dividend yield.
Year-by-year returns
| Year | ED | VOO |
|---|---|---|
| 2022 | +15.7% | -18.2% |
| 2023 | -1.1% | +26.3% |
| 2024 | +1.5% | +25.0% |
| 2025 | +15.1% | +17.8% |
| 2026 | +10.1% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.06% of VOO is ED itself, so the fund partly moves with the stock by construction.
Are ED and VOO good diversifiers for each other?
Yes. With a correlation of -0.19, ED and VOO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ED and VOO?
As of 2026-08-27, the correlation of weekly returns between ED and VOO is -0.19 over 3 years, -0.36 over 1 year and 0.12 over 5 years.
Is VOO a good diversifier for ED?
Yes. With a correlation of -0.19, ED and VOO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
A reading of -0.19 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ED correlations · VOO correlations
