AWK vs IBKR: Correlation
How closely do American Water Works (AWK) and Interactive Brokers (IBKR) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWK and IBKR?
On 3 years of weekly data the AWK/IBKR correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.39 versus -0.28 over 3 years. The 5-year figure is -0.06, and annualized covariance runs at -194.3 %².
Among the 49 assets we track against AWK, IBKR sits near the bottom by co-movement, at rank #48. The last year tells two different stories: IBKR led by 60.0 percentage points, -3.0% for AWK against +57.0% for IBKR. This link changes with the market regime, having swung between -0.42 and 0.11 on a rolling one-year basis. Note the risk asymmetry: IBKR runs 1.6 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.
AWK vs IBKR: side by side
| AWK (American Water Works) | IBKR (Interactive Brokers) | |
|---|---|---|
| 1-year return | -3.0% | +57.0% |
| 5-year return | -16.6% | +516.0% |
| Volatility (ann.) | 20.7% | 33.9% |
| Beta vs S&P 500 | -0.11 | 1.37 |
| Max drawdown (3Y) | -18.8% | -38.7% |
| Market cap | $27.2B | $164.5B |
| P/E (trailing) | 23.7 | 38.5 |
| Dividend yield | 2.46% | 0.34% |
| Sector / category | Utilities | Financials |
Year-by-year returns
| Year | AWK | IBKR |
|---|---|---|
| 2022 | -17.9% | -8.4% |
| 2023 | -11.7% | +15.1% |
| 2024 | -3.5% | +114.4% |
| 2025 | +7.4% | +46.4% |
| 2026 | +6.9% | +50.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWK and IBKR good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between AWK and IBKR?
The AWK/IBKR correlation stands at -0.28 on a 3-year window (1 year: -0.39, 5 years: -0.06), computed from weekly returns as of 2026-08-27.
Is IBKR a good diversifier for AWK?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
A reading of -0.28 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: AWK correlations · IBKR correlations
