ED vs XYZ: Correlation
Consolidated Edison (ED) and Block, Inc. (XYZ) show a negative relationship: their 3-year correlation of weekly returns is -0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and XYZ?
Across a 3-year window, the weekly returns of ED and XYZ correlate at -0.16, 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 (-0.16). Stretching to 5 years gives 0.02, with an annualized covariance of -134.1 %².
Within ED's tracked universe of 105 assets, XYZ comes in at #28 by 3-year correlation. Twelve-month performance is nearly a tie, at +10.2% for ED and +6.9% for XYZ. The relationship is regime-dependent: the rolling one-year correlation swung between -0.40 and 0.31 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since XYZ carries 3.0 times the volatility of the other side.
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 XYZ: side by side
| ED (Consolidated Edison) | XYZ (Block, Inc.) | |
|---|---|---|
| 1-year return | +10.2% | +6.9% |
| 5-year return | +67.5% | -68.8% |
| Volatility (ann.) | 16.5% | 50.2% |
| Beta vs S&P 500 | -0.21 | 1.80 |
| Max drawdown (3Y) | -17.4% | -53.0% |
| Market cap | $39.5B | $51.0B |
| P/E (trailing) | 17.5 | 151.5 |
| Dividend yield | 3.22% | 0.00% |
| Sector / category | Utilities | Financials |
Year-by-year returns
| Year | ED | XYZ |
|---|---|---|
| 2022 | +15.7% | -61.1% |
| 2023 | -1.1% | +23.1% |
| 2024 | +1.5% | +9.9% |
| 2025 | +15.1% | -23.4% |
| 2026 | +10.1% | +30.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and XYZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between ED and XYZ?
The ED/XYZ correlation stands at -0.16 on a 3-year window (1 year: -0.29, 5 years: 0.02), computed from weekly returns as of 2026-08-27.
Is XYZ a good diversifier for ED?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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-xyz.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ed-vs-xyz/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ED correlations · XYZ correlations
