GE vs HEI: Correlation
GE Aerospace (GE) and Heico Corporation (HEI) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GE and HEI?
Over the past 3 years, GE and HEI moved with a correlation of 0.53, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.66 versus 0.53 over 3 years. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 447.8 %².
Among the 32 assets we track against GE, HEI ranks #19 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GE ahead by 19.5 points (+26.0% versus +6.5%).
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.
GE vs HEI: side by side
| GE (GE Aerospace) | HEI (Heico Corporation) | |
|---|---|---|
| 1-year return | +26.0% | +6.5% |
| 5-year return | +435.6% | +169.4% |
| Volatility (ann.) | 30.9% | 27.5% |
| Beta vs S&P 500 | 1.24 | 0.85 |
| Max drawdown (3Y) | -21.4% | -27.1% |
| Market cap | $355.6B | – |
| P/E (trailing) | 41.8 | 57.8 |
| Dividend yield | 0.47% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | GE | HEI |
|---|---|---|
| 2022 | -10.9% | +6.7% |
| 2023 | +95.7% | +16.6% |
| 2024 | +64.8% | +33.1% |
| 2025 | +85.7% | +36.2% |
| 2026 | +11.6% | +4.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GE and HEI good diversifiers for each other?
Only partially. A correlation of 0.53 means GE and HEI 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 GE and HEI?
The GE/HEI correlation stands at 0.53 on a 3-year window (1 year: 0.66, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is HEI a good diversifier for GE?
Only partially. A correlation of 0.53 means GE and HEI 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?
On the −1 to +1 scale, 0.53 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/ge-vs-hei.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ge-vs-hei/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GE correlations · HEI correlations
