AVTR vs WMB: Correlation
Avantor, Inc. (AVTR) and Williams Companies (WMB) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVTR and WMB?
Over the past 3 years, AVTR and WMB moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.41) runs below the 3-year figure (-0.21). Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -220.0 %².
Out of 14 assets tracked against AVTR, WMB lands near the bottom at #12. The last year tells two different stories: WMB led by 22.3 percentage points, +10.8% for AVTR against +33.1% for WMB. Note the risk asymmetry: AVTR runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AVTR vs WMB: side by side
| AVTR (Avantor, Inc.) | WMB (Williams Companies) | |
|---|---|---|
| 1-year return | +10.8% | +33.1% |
| 5-year return | -63.4% | +279.9% |
| Volatility (ann.) | 44.6% | 24.0% |
| Beta vs S&P 500 | 0.89 | 0.34 |
| Max drawdown (3Y) | -73.2% | -12.4% |
| Market cap | $9.9B | $90.7B |
| P/E (trailing) | – | 29.7 |
| Dividend yield | 0.00% | 2.76% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | AVTR | WMB |
|---|---|---|
| 2022 | -50.0% | +32.8% |
| 2023 | +8.3% | +11.9% |
| 2024 | -7.7% | +62.3% |
| 2025 | -45.6% | +14.9% |
| 2026 | +27.5% | +25.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVTR and WMB good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AVTR and WMB?
The AVTR/WMB correlation stands at -0.21 on a 3-year window (1 year: -0.41, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is WMB a good diversifier for AVTR?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
A reading of -0.21 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: AVTR correlations · WMB correlations
