BWEN vs HYLN: Correlation
Measured on weekly returns over the past three years, Broadwind, Inc. (BWEN) and Hyliion Holdings Corp. (HYLN) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWEN and HYLN?
On 3 years of weekly data the BWEN/HYLN correlation comes out at 0.45, moderate. The link has tightened recently: the 1-year correlation (0.62) runs above the 3-year figure (0.45). The 5-year figure is 0.42, and annualized covariance runs at 4847.3 %².
Within BWEN's tracked universe of 17 assets, HYLN comes in at #6 by 3-year correlation. Over the last 12 months BWEN came out ahead by 10.7 percentage points (+112.5% against +101.8%).
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.
BWEN vs HYLN: side by side
| BWEN (Broadwind, Inc.) | HYLN (Hyliion Holdings Corp.) | |
|---|---|---|
| 1-year return | +112.5% | +101.8% |
| 5-year return | +46.2% | -60.9% |
| Volatility (ann.) | 99.9% | 108.2% |
| Beta vs S&P 500 | 1.25 | 2.37 |
| Max drawdown (3Y) | -69.3% | -70.3% |
| Market cap | $0.1B | $0.6B |
| P/E (trailing) | 12.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWEN | HYLN |
|---|---|---|
| 2022 | -4.8% | -62.3% |
| 2023 | +54.7% | -65.2% |
| 2024 | -32.1% | +220.6% |
| 2025 | +50.5% | -29.5% |
| 2026 | +62.2% | +85.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWEN and HYLN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BWEN and HYLN?
The BWEN/HYLN correlation stands at 0.45 on a 3-year window (1 year: 0.62, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is HYLN a good diversifier for BWEN?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 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
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Related comparisons
Hubs: BWEN correlations · HYLN correlations
