CWT vs HTO: Correlation
California Water Service Group (CWT) and H2O America (HTO) show a very strong relationship: their 3-year correlation of weekly returns is 0.82.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWT and HTO?
On 3 years of weekly data the CWT/HTO correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.78 lands near the 3-year figure. The 5-year figure is 0.83, and annualized covariance runs at 442.8 %².
Few assets follow CWT as closely as HTO, which ranks #2 of 15 tracked partners. Their recent paths diverged sharply: over the last 12 months HTO outperformed by 18.6 percentage points (+9.3% for CWT against +27.9% for HTO).
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.
CWT vs HTO: side by side
| CWT (California Water Service Group) | HTO (H2O America) | |
|---|---|---|
| 1-year return | +9.3% | +27.9% |
| 5-year return | -12.2% | +4.2% |
| Volatility (ann.) | 22.3% | 24.2% |
| Beta vs S&P 500 | 0.10 | 0.14 |
| Max drawdown (3Y) | -24.1% | -32.4% |
| Market cap | $3.1B | $2.6B |
| P/E (trailing) | 22.6 | 22.5 |
| Dividend yield | 2.53% | 2.70% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CWT | HTO |
|---|---|---|
| 2022 | -14.1% | +13.4% |
| 2023 | -12.8% | -17.8% |
| 2024 | -10.6% | -22.6% |
| 2025 | -1.8% | +2.9% |
| 2026 | +18.2% | +31.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWT and HTO good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between CWT and HTO?
As of 2026-08-27, the correlation of weekly returns between CWT and HTO is 0.82 over 3 years, 0.78 over 1 year and 0.83 over 5 years.
Is HTO a good diversifier for CWT?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 mean?
A reading of 0.82 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
$ curl https://www.pairbook.io/api/v1/pairs/cwt-vs-hto.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cwt-vs-hto/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CWT correlations · HTO correlations
