Correlation Analysis
Consolidated Edison, Inc. vs JPMorgan Chase & Co.
ED vs JPM
+0.531
Moderate positive
When one moves up, the other tends to follow.
Consolidated Edison, Inc.
↗ED
Con Ed is a holding company for Consolidated Edison of New York, or CECONY, and Orange & Rockland, or O&R. These utilities provide steam, natural gas, and electricity to customers in southeastern New York—including New York City—and small parts of New Jersey. The two utilities generate nearly all of Con Ed's earnings following the sale of its clean energy business to RWE in early 2023.
Market cap 41.4B · 15,407 employees
JPMorgan Chase & Co.
↗JPM
JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with more than $4.4 trillion in assets. It is organized into four major segments: consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates and is subject to regulation in multiple countries.
Market cap 792.5B
Time Series
Relative Performance
Who Moves First
JPM leads ED by 6 days
JPM tends to move before ED.
After testing 13 timing shifts, the strongest relationship was +0.533 (they moved in the same direction).
Do They Crash Together?
Correlation by Market Regime
How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.
Both Rising
-0.081
13 periods · Return correlation when both series rose
Both Falling
+0.750
5 periods · Return correlation when both series fell
Diverging
-0.711
17 periods · Return correlation when series moved apart
R-Squared
28.2%
Share of variance in one series explained by the other.
Trend Agreement
54.9%
How often both series moved in the same direction period-to-period.
Overlap Quality
1,254
Deep shared window — 1,254 usable pairs.
Significance
p < 0.001
95% CI: [0.490, 0.570]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,254 paired data points survived the daily window.
Raw input
1,254
1,254
Normalized
1,254
1,254
Prepared
1,254
1,254
Aligned
1,254
1,254
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
0
A: 0 / B: 0
Series A
Consolidated Edison, Inc.
ED
Market cap 41.4B · 15,407 employees
Stock · 1,254 raw → 1,254 prepared
Series B
JPMorgan Chase & Co.
JPM
Market cap 792.5B
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
11
Estimated crossover points between normalized spreads.
Slope
3.5465
Linear regression slope.
Intercept
-139.4595
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 6 hours ago · ID: stock-ed-vs-stock-jpm-daily