AWK vs CRDO: Correlation
American Water Works (AWK) and Credo Technology Group Holding Ltd (CRDO) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWK and CRDO?
Across a 3-year window, the weekly returns of AWK and CRDO correlate at -0.26, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.29 over 1 year against -0.26 over 3. Stretching to 5 years gives -0.09, with an annualized covariance of -455.3 %².
Within AWK's tracked universe of 49 assets, CRDO comes in at #42 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CRDO ahead by 98.7 points (-3.0% versus +95.7%). One caveat on sizing: CRDO is 4.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AWK vs CRDO: side by side
| AWK (American Water Works) | CRDO (Credo Technology Group Holding Ltd) | |
|---|---|---|
| 1-year return | -3.0% | +95.7% |
| 5-year return | -16.6% | +1962.1% |
| Volatility (ann.) | 20.7% | 84.8% |
| Beta vs S&P 500 | -0.11 | 3.44 |
| Max drawdown (3Y) | -18.8% | -61.1% |
| Market cap | $27.2B | $45.1B |
| P/E (trailing) | 23.7 | 90.0 |
| Dividend yield | 2.46% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | AWK | CRDO |
|---|---|---|
| 2022 | -17.9% | – |
| 2023 | -11.7% | +46.3% |
| 2024 | -3.5% | +245.2% |
| 2025 | +7.4% | +114.1% |
| 2026 | +6.9% | +67.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWK and CRDO good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AWK and CRDO?
As of 2026-08-27, the correlation of weekly returns between AWK and CRDO is -0.26 over 3 years, -0.29 over 1 year and -0.09 over 5 years.
Is CRDO a good diversifier for AWK?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
A reading of -0.26 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/awk-vs-crdo.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: AWK correlations · CRDO correlations
