ATI vs HWM: Correlation
ATI Inc. (ATI) and Howmet Aerospace (HWM) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATI and HWM?
On 3 years of weekly data the ATI/HWM correlation comes out at 0.64, strong. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. The 5-year figure is 0.66, and annualized covariance runs at 891.5 %².
HWM is one of the assets that tracks ATI most closely: it ranks #3 out of the 12 assets we track against ATI. Correlation aside, the last 12 months split them widely, with ATI ahead by 126.8 points (+179.5% versus +52.7%).
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.
ATI vs HWM: side by side
| ATI (ATI Inc.) | HWM (Howmet Aerospace) | |
|---|---|---|
| 1-year return | +179.5% | +52.7% |
| 5-year return | +1095.8% | +754.4% |
| Volatility (ann.) | 43.3% | 32.1% |
| Beta vs S&P 500 | 1.59 | 1.24 |
| Max drawdown (3Y) | -38.0% | -19.4% |
| Market cap | $29.2B | $106.7B |
| P/E (trailing) | 62.5 | 58.2 |
| Dividend yield | 0.00% | 0.18% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | ATI | HWM |
|---|---|---|
| 2022 | +87.4% | +24.2% |
| 2023 | +52.3% | +37.8% |
| 2024 | +21.0% | +102.7% |
| 2025 | +108.5% | +88.0% |
| 2026 | +86.9% | +30.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATI and HWM good diversifiers for each other?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ATI and HWM?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.59 over the last year and 0.66 over 5 years.
Is HWM a good diversifier for ATI?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.64 mean?
A reading of 0.64 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ATI correlations · HWM correlations
