AWR vs HTO: Correlation
How closely do American States Water Company (AWR) and H2O America (HTO) trade together? Their weekly returns over three years give a correlation of 0.86, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWR and HTO?
Over the past 3 years, AWR and HTO moved with a correlation of 0.86, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.78) sits close to the 3-year figure. Over 5 years the correlation is 0.84, and the annualized covariance of weekly returns is 431.1 %².
Few assets follow AWR as closely as HTO, which ranks #2 of 16 tracked partners. The trailing year gives HTO the advantage: +21.5% versus +27.9%, a 6.4-point spread.
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.
AWR vs HTO: side by side
| AWR (American States Water Company) | HTO (H2O America) | |
|---|---|---|
| 1-year return | +21.5% | +27.9% |
| 5-year return | +7.6% | +4.2% |
| Volatility (ann.) | 20.8% | 24.2% |
| Beta vs S&P 500 | 0.04 | 0.14 |
| Max drawdown (3Y) | -21.9% | -32.4% |
| Market cap | $3.5B | $2.6B |
| P/E (trailing) | 24.3 | 22.5 |
| Dividend yield | 2.24% | 2.70% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AWR | HTO |
|---|---|---|
| 2022 | -8.9% | +13.4% |
| 2023 | -11.4% | -17.8% |
| 2024 | -1.2% | -22.6% |
| 2025 | -4.3% | +2.9% |
| 2026 | +25.1% | +31.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWR and HTO good diversifiers for each other?
No: a correlation of 0.86 means AWR and HTO tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between AWR and HTO?
As of 2026-08-27, the correlation of weekly returns between AWR and HTO is 0.86 over 3 years, 0.78 over 1 year and 0.84 over 5 years.
Is HTO a good diversifier for AWR?
No: a correlation of 0.86 means AWR and HTO tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.86 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/awr-vs-hto.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/awr-vs-hto/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AWR correlations · HTO correlations
