Consolidated Edison Correlations

ED Stock

USD 101.61 0.66 0.65%

The current 90-days correlation between Consolidated Edison and Duke Energy is 0.88 (i.e., Very poor diversification). The correlation of Consolidated Edison is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Consolidated Edison Correlation With Market

Good diversification

The correlation between Consolidated Edison and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Consolidated Edison and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Consolidated Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Consolidated Edison. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For information on how to trade Consolidated Stock refer to our How to Trade Consolidated Stock guide.

Moving together with Consolidated Stock

0.69	SO	Southern Sell-off Trend	Pair Corr
0.77	EVRG	Evergy,	Pair Corr
0.64	AEE	Ameren Corp	Pair Corr
0.85	AEP	American Electric Power	Pair Corr
0.72	CMS	CMS Energy	Pair Corr
0.9	DUK	Duke Energy	Pair Corr
0.93	EXC	Exelon	Pair Corr
0.69	OGE	OGE Energy Sell-off Trend	Pair Corr
0.81	PNW	Pinnacle West Capital	Pair Corr
0.85	PPL	PPL Corporation Sell-off Trend	Pair Corr
0.68	WEC	WEC Energy Group	Pair Corr

Moving against Consolidated Stock

0.46	GNE	Genie Energy	Pair Corr
0.44	ES	Eversource Energy	Pair Corr
0.39	EDN	Empresa Distribuidora	Pair Corr
0.38	ENIC	Enel Chile SA	Pair Corr
0.56	SCE-PJ	SCE Trust IV	Pair Corr
0.51	NEE	Nextera Energy Aggressive Push	Pair Corr
0.42	DUK-PA	Duke Energy	Pair Corr
0.42	SCE-PK	SCE Trust V	Pair Corr
0.34	TLN	Talen Energy	Pair Corr

Related Correlations Analysis

	DUK	D	AEP	NEE	SO	ETR	PNW	FE	EXC
DUK		0.03	0.94	-0.3	0.82	0.55	0.88	0.34	0.84	DUK
D	0.03		0.12	0.59	0.37	0.47	0.13	0.37	-0.22	D
AEP	0.94	0.12		-0.18	0.89	0.61	0.93	0.28	0.79	AEP
NEE	-0.3	0.59	-0.18		-0.06	0.17	-0.14	-0.18	-0.57	NEE
SO	0.82	0.37	0.89	-0.06		0.54	0.78	0.32	0.63	SO
ETR	0.55	0.47	0.61	0.17	0.54		0.75	0.31	0.31	ETR
PNW	0.88	0.13	0.93	-0.14	0.78	0.75		0.32	0.74	PNW
FE	0.34	0.37	0.28	-0.18	0.32	0.31	0.32		0.48	FE
EXC	0.84	-0.22	0.79	-0.57	0.63	0.31	0.74	0.48		EXC
	DUK	D	AEP	NEE	SO	ETR	PNW	FE	EXC

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

AEP	+ 0.94	DUK
PNW	+ 0.93	AEP
SO	+ 0.89	AEP
PNW	+ 0.88	DUK
EXC	+ 0.84	DUK
SO	+ 0.82	DUK

High negative correlations

EXC	- 0.57	NEE
NEE	- 0.3	DUK
EXC	- 0.22	D
FE	- 0.18	NEE
NEE	- 0.18	AEP
PNW	- 0.14	NEE

Risk-Adjusted Indicators

There is a big difference between Consolidated Stock performing well and Consolidated Edison Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Consolidated Edison's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DUK	1.05	0.01	0.01	0.17	1.33	(1.18)	1.97	(2.12)	7.17
D	1.23	0.07	0.04	0.11	1.83	(1.15)	2.57	(2.57)	9.11
AEP	1.07	(0.01)	0.00	(0.06)	0.00	0.00	2.16	(2.69)	6.82
NEE	1.70	0.07	0.03	0.11	2.36	(1.67)	3.47	(2.99)	11.85
SO	1.05	0.01	0.01	0.03	1.44	(1.07)	1.72	(2.52)	6.93
ETR	1.16	(0.03)	0.00	(0.06)	0.00	0.00	2.05	(2.31)	9.70
PNW	0.95	(0.02)	0.00	(0.06)	0.00	0.00	1.96	(1.70)	6.38
FE	1.05	0.10	0.08	0.46	1.20	(1.22)	2.52	(2.16)	6.63
EXC	1.12	(0.01)	0.00	(0.17)	0.00	0.00	2.74	(2.18)	7.04

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