ALMS vs HWM: Correlation
Alumis Inc. (ALMS) and Howmet Aerospace (HWM) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALMS and HWM?
Over the past 3 years, ALMS and HWM moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.01) than the 3-year average (-0.18). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -766.7 %².
Within ALMS's tracked universe of 92 assets, HWM comes in at #30 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ALMS outperformed by 319.0 percentage points (+371.7% for ALMS against +52.7% for HWM). Risk is not evenly split, since ALMS carries 4.0 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.
ALMS vs HWM: side by side
| ALMS (Alumis Inc.) | HWM (Howmet Aerospace) | |
|---|---|---|
| 1-year return | +371.7% | +52.7% |
| 5-year return | n/a | +754.4% |
| Volatility (ann.) | 130.0% | 32.1% |
| Beta vs S&P 500 | -1.50 | 1.24 |
| Max drawdown (3Y) | -78.9% | -19.4% |
| Market cap | $3.0B | $106.7B |
| P/E (trailing) | – | 58.2 |
| Dividend yield | 0.00% | 0.18% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | ALMS | HWM |
|---|---|---|
| 2022 | – | +24.2% |
| 2023 | – | +37.8% |
| 2024 | – | +102.7% |
| 2025 | +24.2% | +88.0% |
| 2026 | +137.8% | +30.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALMS and HWM good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ALMS and HWM?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.01 over the last year and n/a over 5 years.
Is HWM a good diversifier for ALMS?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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.
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Related comparisons
Hubs: ALMS correlations · HWM correlations
