GE vs HWM: Correlation
GE Aerospace (GE) and Howmet Aerospace (HWM) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GE and HWM?
Across a 3-year window, the weekly returns of GE and HWM correlate at 0.61, strong. The relationship has been stable: the 1-year correlation (0.56) sits close to the 3-year figure. Stretching to 5 years gives 0.63, with an annualized covariance of 601.8 %².
Few assets follow GE as closely as HWM, which ranks #2 of 32 tracked partners. The last year tells two different stories: HWM led by 26.7 percentage points, +26.0% for GE against +52.7% for HWM. The relationship is regime-dependent: the rolling one-year correlation swung between 0.31 and 0.82 over the past three years, so this pair behaves very differently depending on the market environment.
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 HWM: side by side
| GE (GE Aerospace) | HWM (Howmet Aerospace) | |
|---|---|---|
| 1-year return | +26.0% | +52.7% |
| 5-year return | +435.6% | +754.4% |
| Volatility (ann.) | 30.9% | 32.1% |
| Beta vs S&P 500 | 1.24 | 1.24 |
| Max drawdown (3Y) | -21.4% | -19.4% |
| Market cap | $355.6B | $106.7B |
| P/E (trailing) | 41.8 | 58.2 |
| Dividend yield | 0.47% | 0.18% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | GE | HWM |
|---|---|---|
| 2022 | -10.9% | +24.2% |
| 2023 | +95.7% | +37.8% |
| 2024 | +64.8% | +102.7% |
| 2025 | +85.7% | +88.0% |
| 2026 | +11.6% | +30.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GE and HWM good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GE and HWM?
The GE/HWM correlation stands at 0.61 on a 3-year window (1 year: 0.56, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is HWM a good diversifier for GE?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 mean?
On the −1 to +1 scale, 0.61 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-hwm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ge-vs-hwm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GE correlations · HWM correlations
