AVGO vs AWK: Correlation
Broadcom (AVGO) and American Water Works (AWK) 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 AVGO and AWK?
On 3 years of weekly data the AVGO/AWK correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.37) than the 3-year average (-0.22). The 5-year figure is 0.01, and annualized covariance runs at -234.0 %².
Among the 33 assets we track against AVGO, AWK ranks #28 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AVGO ahead by 27.7 points (+24.7% versus -3.0%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.39 and 0.41 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since AVGO carries 2.5 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.
AVGO vs AWK: side by side
| AVGO (Broadcom) | AWK (American Water Works) | |
|---|---|---|
| 1-year return | +24.7% | -3.0% |
| 5-year return | +718.0% | -16.6% |
| Volatility (ann.) | 51.3% | 20.7% |
| Beta vs S&P 500 | 2.45 | -0.11 |
| Max drawdown (3Y) | -41.1% | -18.8% |
| Market cap | $1,767.6B | $27.2B |
| P/E (trailing) | 59.2 | 23.7 |
| Dividend yield | 0.71% | 2.46% |
| Sector / category | Information Technology | Utilities |
Year-by-year returns
| Year | AVGO | AWK |
|---|---|---|
| 2022 | -13.3% | -17.9% |
| 2023 | +104.2% | -11.7% |
| 2024 | +110.5% | -3.5% |
| 2025 | +50.6% | +7.4% |
| 2026 | +7.7% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVGO and AWK good diversifiers for each other?
Yes. With a correlation of -0.22, AVGO and AWK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AVGO and AWK?
The AVGO/AWK correlation stands at -0.22 on a 3-year window (1 year: -0.37, 5 years: 0.01), computed from weekly returns as of 2026-08-27.
Is AWK a good diversifier for AVGO?
Yes. With a correlation of -0.22, AVGO and AWK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/avgo-vs-awk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/avgo-vs-awk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AVGO correlations · AWK correlations
