GDV vs HWM: Correlation
Gabelli Dividend & Income Trust (GDV) 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 GDV and HWM?
Over the past 3 years, GDV and HWM moved with a correlation of 0.56, which is moderate. The past 12 months show a weaker link (0.43) than the 3-year average (0.56). Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 271.0 %².
Among the 71 assets we track against GDV, HWM ranks #48 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HWM outperformed by 32.4 percentage points (+20.3% for GDV against +52.7% for HWM). One caveat on sizing: HWM is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GDV vs HWM: side by side
| GDV (Gabelli Dividend & Income Trust) | HWM (Howmet Aerospace) | |
|---|---|---|
| 1-year return | +20.3% | +52.7% |
| 5-year return | +53.8% | +754.4% |
| Volatility (ann.) | 15.0% | 32.1% |
| Beta vs S&P 500 | 0.90 | 1.24 |
| Max drawdown (3Y) | -16.1% | -19.4% |
| Market cap | $2.7B | $106.7B |
| P/E (trailing) | 6.3 | 58.2 |
| Dividend yield | 5.51% | 0.18% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | GDV | HWM |
|---|---|---|
| 2022 | -18.6% | +24.2% |
| 2023 | +11.9% | +37.8% |
| 2024 | +18.1% | +102.7% |
| 2025 | +22.8% | +88.0% |
| 2026 | +13.8% | +30.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDV 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 GDV and HWM?
The GDV/HWM correlation stands at 0.56 on a 3-year window (1 year: 0.43, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is HWM a good diversifier for GDV?
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?
A reading of 0.56 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/gdv-vs-hwm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gdv-vs-hwm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GDV correlations · HWM correlations
