FIX vs HWM: Correlation
How closely do Comfort Systems USA (FIX) and Howmet Aerospace (HWM) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIX and HWM?
Over the past 3 years, FIX and HWM moved with a correlation of 0.53, which is moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.53 over 3. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 799.6 %².
By 3-year correlation, HWM places #18 of the 37 assets tracked against FIX. Their recent paths diverged sharply: over the last 12 months FIX outperformed by 75.3 percentage points (+128.0% for FIX against +52.7% for HWM). On a rolling one-year basis the correlation drifted between 0.36 and 0.70, a moderate band.
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.
FIX vs HWM: side by side
| FIX (Comfort Systems USA) | HWM (Howmet Aerospace) | |
|---|---|---|
| 1-year return | +128.0% | +52.7% |
| 5-year return | +2077.9% | +754.4% |
| Volatility (ann.) | 47.4% | 32.1% |
| Beta vs S&P 500 | 1.74 | 1.24 |
| Max drawdown (3Y) | -46.0% | -19.4% |
| Market cap | $56.8B | $106.7B |
| P/E (trailing) | 39.8 | 58.2 |
| Dividend yield | 0.16% | 0.18% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | FIX | HWM |
|---|---|---|
| 2022 | +17.0% | +24.2% |
| 2023 | +79.6% | +37.8% |
| 2024 | +106.9% | +102.7% |
| 2025 | +120.9% | +88.0% |
| 2026 | +73.3% | +30.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIX and HWM good diversifiers for each other?
Only partially. A correlation of 0.53 means FIX and HWM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between FIX and HWM?
The FIX/HWM correlation stands at 0.53 on a 3-year window (1 year: 0.48, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is HWM a good diversifier for FIX?
Only partially. A correlation of 0.53 means FIX and HWM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FIX correlations · HWM correlations
