HON vs OTIS: Correlation
How closely do Honeywell Technologies (HON) and Otis Worldwide (OTIS) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HON and OTIS?
On 3 years of weekly data the HON/OTIS correlation comes out at 0.47, moderate. The link has loosened recently: the 1-year correlation (0.32) runs below the 3-year figure (0.47). The 5-year figure is 0.53, and annualized covariance runs at 206.7 %².
Among the 32 assets we track against HON, OTIS ranks #19 by 3-year correlation. The last year tells two different stories: HON led by 19.5 percentage points, +2.7% for HON against -16.8% for OTIS. The rolling one-year correlation moved between 0.32 and 0.64 over the past three years, a moderate range.
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 OTIS: side by side
| HON (Honeywell Technologies) | OTIS (Otis Worldwide) | |
|---|---|---|
| 1-year return | +2.7% | -16.8% |
| 5-year return | +6.6% | -15.9% |
| Volatility (ann.) | 23.2% | 19.1% |
| Beta vs S&P 500 | 0.74 | 0.59 |
| Max drawdown (3Y) | -22.1% | -32.4% |
| Market cap | $69.9B | $27.2B |
| P/E (trailing) | 8.5 | 18.4 |
| Dividend yield | 4.26% | 2.35% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | HON | OTIS |
|---|---|---|
| 2022 | +4.9% | -8.8% |
| 2023 | +0.0% | +16.0% |
| 2024 | +10.0% | +5.2% |
| 2025 | -6.4% | -4.0% |
| 2026 | +9.2% | -16.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HON and OTIS good diversifiers for each other?
Reasonably. At 0.47, HON and OTIS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HON and OTIS?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.32 over the last year and 0.53 over 5 years.
Is OTIS a good diversifier for HON?
Reasonably. At 0.47, HON and OTIS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: HON correlations · OTIS correlations
