CR vs HWM: Correlation
Crane Company (CR) and Howmet Aerospace (HWM) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CR and HWM?
On 3 years of weekly data the CR/HWM correlation comes out at 0.56, moderate. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 560.1 %².
Within CR's tracked universe of 17 assets, HWM comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HWM ahead by 44.3 points (+8.4% versus +52.7%).
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.
CR vs HWM: side by side
| CR (Crane Company) | HWM (Howmet Aerospace) | |
|---|---|---|
| 1-year return | +8.4% | +52.7% |
| 5-year return | n/a | +754.4% |
| Volatility (ann.) | 31.2% | 32.1% |
| Beta vs S&P 500 | 1.13 | 1.24 |
| Max drawdown (3Y) | -28.0% | -19.4% |
| Market cap | $12.1B | $106.7B |
| P/E (trailing) | 36.6 | 58.2 |
| Dividend yield | 0.46% | 0.18% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CR | HWM |
|---|---|---|
| 2022 | – | +24.2% |
| 2023 | – | +37.8% |
| 2024 | +29.2% | +102.7% |
| 2025 | +22.2% | +88.0% |
| 2026 | +13.6% | +30.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CR and HWM good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CR and HWM?
The CR/HWM correlation stands at 0.56 on a 3-year window (1 year: 0.66, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is HWM a good diversifier for CR?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 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/cr-vs-hwm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cr-vs-hwm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CR correlations · HWM correlations
