ED vs WEC: Correlation
How closely do Consolidated Edison (ED) and WEC Energy Group (WEC) trade together? Their weekly returns over three years give a correlation of 0.80, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and WEC?
Across a 3-year window, the weekly returns of ED and WEC correlate at 0.80, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.83 over 1 year against 0.80 over 3. Stretching to 5 years gives 0.83, with an annualized covariance of 222.1 %².
Within ED's tracked universe of 105 assets, WEC comes in at #4 by 3-year correlation. Over the last 12 months ED came out ahead by 8.1 percentage points (+10.2% against +2.1%). Across three years, the rolling one-year figure varied moderately, from 0.61 to 0.89.
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 WEC: side by side
| ED (Consolidated Edison) | WEC (WEC Energy Group) | |
|---|---|---|
| 1-year return | +10.2% | +2.1% |
| 5-year return | +67.5% | +32.7% |
| Volatility (ann.) | 16.5% | 16.9% |
| Beta vs S&P 500 | -0.21 | 0.02 |
| Max drawdown (3Y) | -17.4% | -11.6% |
| Market cap | $39.5B | $34.6B |
| P/E (trailing) | 17.5 | 20.6 |
| Dividend yield | 3.22% | 3.43% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | ED | WEC |
|---|---|---|
| 2022 | +15.7% | -0.5% |
| 2023 | -1.1% | -7.0% |
| 2024 | +1.5% | +16.1% |
| 2025 | +15.1% | +16.0% |
| 2026 | +10.1% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and WEC good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ED and WEC?
As of 2026-08-27, the correlation of weekly returns between ED and WEC is 0.80 over 3 years, 0.83 over 1 year and 0.83 over 5 years.
Is WEC a good diversifier for ED?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 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.
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Related comparisons
Hubs: ED correlations · WEC correlations
