HON vs MOH: Correlation
How closely do Honeywell Technologies (HON) and Molina Healthcare Inc (MOH) 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 HON and MOH?
Across a 3-year window, the weekly returns of HON and MOH correlate at -0.18, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.32) than the 3-year average (-0.18). Stretching to 5 years gives -0.05, with an annualized covariance of -182.3 %².
By 3-year correlation, MOH places #26 of the 32 assets tracked against HON. Over the last 12 months MOH came out ahead by 10.1 percentage points (+2.7% against +12.8%). One caveat on sizing: MOH is 1.9 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.
HON vs MOH: side by side
| HON (Honeywell Technologies) | MOH (Molina Healthcare Inc) | |
|---|---|---|
| 1-year return | +2.7% | +12.8% |
| 5-year return | +6.6% | -25.1% |
| Volatility (ann.) | 23.2% | 44.8% |
| Beta vs S&P 500 | 0.74 | -0.03 |
| Max drawdown (3Y) | -22.1% | -70.8% |
| Market cap | $69.9B | $10.4B |
| P/E (trailing) | 8.5 | 1242.2 |
| Dividend yield | 4.26% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | HON | MOH |
|---|---|---|
| 2022 | +4.9% | +3.8% |
| 2023 | +0.0% | +9.4% |
| 2024 | +10.0% | -19.4% |
| 2025 | -6.4% | -40.4% |
| 2026 | +9.2% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HON and MOH good diversifiers for each other?
Yes. With a correlation of -0.18, HON and MOH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HON and MOH?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.32 over the last year and -0.05 over 5 years.
Is MOH a good diversifier for HON?
Yes. With a correlation of -0.18, HON and MOH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
A reading of -0.18 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/hon-vs-moh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hon-vs-moh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HON correlations · MOH correlations
