CLFD vs HWM: Correlation
How closely do Clearfield, Inc. (CLFD) and Howmet Aerospace (HWM) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLFD and HWM?
On 3 years of weekly data the CLFD/HWM correlation comes out at 0.51, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.51 over 3. The 5-year figure is 0.41, and annualized covariance runs at 802.4 %².
Few assets follow CLFD as closely as HWM, which ranks #2 of 12 tracked partners. The last year tells two different stories: HWM led by 61.2 percentage points, -8.5% for CLFD against +52.7% for HWM. Risk is not evenly split, since CLFD carries 1.5 times the volatility of the other side.
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.
CLFD vs HWM: side by side
| CLFD (Clearfield, Inc.) | HWM (Howmet Aerospace) | |
|---|---|---|
| 1-year return | -8.5% | +52.7% |
| 5-year return | -35.2% | +754.4% |
| Volatility (ann.) | 49.0% | 32.1% |
| Beta vs S&P 500 | 1.34 | 1.24 |
| Max drawdown (3Y) | -48.0% | -19.4% |
| Market cap | $0.4B | $106.7B |
| P/E (trailing) | 103.3 | 58.2 |
| Dividend yield | 0.00% | 0.18% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CLFD | HWM |
|---|---|---|
| 2022 | +11.5% | +24.2% |
| 2023 | -69.1% | +37.8% |
| 2024 | +6.6% | +102.7% |
| 2025 | -6.0% | +88.0% |
| 2026 | +2.8% | +30.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLFD and HWM good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CLFD and HWM?
The CLFD/HWM correlation stands at 0.51 on a 3-year window (1 year: 0.50, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is HWM a good diversifier for CLFD?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/clfd-vs-hwm.json
Markdown for the live badge, attribution link included:
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLFD correlations · HWM correlations
