ALMS vs ETN: Correlation
Alumis Inc. (ALMS) and Eaton Corporation (ETN) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALMS and ETN?
On 3 years of weekly data the ALMS/ETN correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.12 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -882.4 %².
Among the 92 assets we track against ALMS, ETN ranks #47 by 3-year correlation. The last year tells two different stories: ALMS led by 352.0 percentage points, +371.7% for ALMS against +19.7% for ETN. Risk is not evenly split, since ALMS carries 4.3 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.
ALMS vs ETN: side by side
| ALMS (Alumis Inc.) | ETN (Eaton Corporation) | |
|---|---|---|
| 1-year return | +371.7% | +19.7% |
| 5-year return | n/a | +164.1% |
| Volatility (ann.) | 130.0% | 30.2% |
| Beta vs S&P 500 | -1.50 | 1.33 |
| Max drawdown (3Y) | -78.9% | -34.5% |
| Market cap | $3.0B | $161.6B |
| P/E (trailing) | – | 42.4 |
| Dividend yield | 0.00% | 1.02% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | ALMS | ETN |
|---|---|---|
| 2022 | – | -7.2% |
| 2023 | – | +56.2% |
| 2024 | – | +39.5% |
| 2025 | +24.2% | -2.8% |
| 2026 | +137.8% | +31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALMS and ETN good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ALMS and ETN?
The ALMS/ETN correlation stands at -0.22 on a 3-year window (1 year: -0.12, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is ETN a good diversifier for ALMS?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 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: ALMS correlations · ETN correlations
