HAYW vs SHW: Correlation
Measured on weekly returns over the past three years, Hayward Holdings, Inc. (HAYW) and Sherwin-Williams (SHW) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAYW and SHW?
On 3 years of weekly data the HAYW/SHW correlation comes out at 0.62, strong. The link has tightened recently: the 1-year correlation (0.75) runs above the 3-year figure (0.62). The 5-year figure is 0.59, and annualized covariance runs at 480.7 %².
SHW is one of the assets that tracks HAYW most closely: it ranks #1 out of the 14 assets we track against HAYW. On 12-month performance SHW holds a 7.3-point edge, -12.4% against -5.1%.
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.
HAYW vs SHW: side by side
| HAYW (Hayward Holdings, Inc.) | SHW (Sherwin-Williams) | |
|---|---|---|
| 1-year return | -12.4% | -5.1% |
| 5-year return | -33.8% | +18.3% |
| Volatility (ann.) | 31.5% | 24.6% |
| Beta vs S&P 500 | 0.91 | 0.79 |
| Max drawdown (3Y) | -31.8% | -25.7% |
| Market cap | $3.0B | $83.8B |
| P/E (trailing) | 20.1 | 31.8 |
| Dividend yield | 0.00% | 0.91% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | HAYW | SHW |
|---|---|---|
| 2022 | -64.2% | -32.0% |
| 2023 | +44.7% | +32.7% |
| 2024 | +12.4% | +9.9% |
| 2025 | +1.0% | -3.8% |
| 2026 | -7.8% | +7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAYW and SHW good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between HAYW and SHW?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.75 over the last year and 0.59 over 5 years.
Is SHW a good diversifier for HAYW?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.62 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hayw-vs-shw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hayw-vs-shw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HAYW correlations · SHW correlations
