AWK vs HTO: Correlation
American Water Works (AWK) and H2O America (HTO) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWK and HTO?
On 3 years of weekly data the AWK/HTO correlation comes out at 0.69, strong. The link has loosened recently: the 1-year correlation (0.58) runs below the 3-year figure (0.69). The 5-year figure is 0.66, and annualized covariance runs at 344.6 %².
By 3-year correlation, HTO places #4 of the 49 assets tracked against AWK. The last year tells two different stories: HTO led by 30.9 percentage points, -3.0% for AWK against +27.9% for HTO.
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 HTO: side by side
| AWK (American Water Works) | HTO (H2O America) | |
|---|---|---|
| 1-year return | -3.0% | +27.9% |
| 5-year return | -16.6% | +4.2% |
| Volatility (ann.) | 20.7% | 24.2% |
| Beta vs S&P 500 | -0.11 | 0.14 |
| Max drawdown (3Y) | -18.8% | -32.4% |
| Market cap | $27.2B | $2.6B |
| P/E (trailing) | 23.7 | 22.5 |
| Dividend yield | 2.46% | 2.70% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | AWK | HTO |
|---|---|---|
| 2022 | -17.9% | +13.4% |
| 2023 | -11.7% | -17.8% |
| 2024 | -3.5% | -22.6% |
| 2025 | +7.4% | +2.9% |
| 2026 | +6.9% | +31.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWK and HTO good diversifiers for each other?
To a limited degree. At 0.69 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 AWK and HTO?
As of 2026-08-27, the correlation of weekly returns between AWK and HTO is 0.69 over 3 years, 0.58 over 1 year and 0.66 over 5 years.
Is HTO a good diversifier for AWK?
To a limited degree. At 0.69 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 0.69 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/awk-vs-hto.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/awk-vs-hto/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AWK correlations · HTO correlations
