ED vs XLU: Correlation
Consolidated Edison (ED) and Utilities Select Sector SPDR Fund (XLU) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and XLU?
Across a 3-year window, the weekly returns of ED and XLU correlate at 0.68, strong. Recent behaviour matches the longer record: 0.76 over 1 year against 0.68 over 3. Stretching to 5 years gives 0.78, with an annualized covariance of 176.1 %².
Among the 105 assets we track against ED, XLU ranks #16 by 3-year correlation. On 12-month performance ED holds a 6.1-point edge, +10.2% against +4.1%. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.26 to 0.86.
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 XLU: side by side
| ED (Consolidated Edison) | XLU (Utilities Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +10.2% | +4.1% |
| 5-year return | +67.5% | +46.3% |
| Volatility (ann.) | 16.5% | 15.8% |
| Beta vs S&P 500 | -0.21 | 0.26 |
| Max drawdown (3Y) | -17.4% | -13.1% |
| Market cap | $39.5B | – |
| P/E (trailing) | 17.5 | – |
| Dividend yield | 3.22% | 2.70% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $23.1B |
| Sector / category | Utilities | Sector ETF |
XLU is an Utilities fund from State Street Investment Management: $23.1B under management, 31 holdings, a 0.08% expense ratio, a 2.70% trailing dividend yield.
Year-by-year returns
| Year | ED | XLU |
|---|---|---|
| 2022 | +15.7% | +1.4% |
| 2023 | -1.1% | -7.2% |
| 2024 | +1.5% | +23.3% |
| 2025 | +15.1% | +16.0% |
| 2026 | +10.1% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLU holds ED at a 2.93% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are ED and XLU good diversifiers for each other?
To a limited degree. At 0.68 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ED and XLU?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.76 over the last year and 0.78 over 5 years.
Is XLU a good diversifier for ED?
To a limited degree. At 0.68 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.68 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-xlu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ed-vs-xlu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ED correlations · XLU correlations
