GT vs HCWB: Correlation
How closely do The Goodyear Tire & Rubber Company (GT) and HCW Biologics Inc. (HCWB) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GT and HCWB?
Across a 3-year window, the weekly returns of GT and HCWB correlate at -0.18, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.18 over 3. Stretching to 5 years gives -0.14, with an annualized covariance of -1893.8 %².
HCWB is close to the least connected end of GT's tracked universe, ranking #9 of 11. The last year tells two different stories: GT led by 63.0 percentage points, -28.2% for GT against -91.2% for HCWB. Risk is not evenly split, since HCWB carries 5.3 times the volatility of the other side.
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.
GT vs HCWB: side by side
| GT (The Goodyear Tire & Rubber Company) | HCWB (HCW Biologics Inc.) | |
|---|---|---|
| 1-year return | -28.2% | -91.2% |
| 5-year return | -61.1% | -99.7% |
| Volatility (ann.) | 45.0% | 238.8% |
| Beta vs S&P 500 | 0.80 | 1.21 |
| Max drawdown (3Y) | -62.8% | -99.7% |
| Market cap | $1.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GT | HCWB |
|---|---|---|
| 2022 | -52.4% | -17.5% |
| 2023 | +41.1% | -36.0% |
| 2024 | -37.2% | -63.6% |
| 2025 | -2.7% | -94.6% |
| 2026 | -29.8% | -45.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GT and HCWB good diversifiers for each other?
Yes. With a correlation of -0.18, GT and HCWB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GT and HCWB?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.22 over the last year and -0.14 over 5 years.
Is HCWB a good diversifier for GT?
Yes. With a correlation of -0.18, GT and HCWB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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/gt-vs-hcwb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gt-vs-hcwb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GT correlations · HCWB correlations
