HON vs SCHD: Correlation
Honeywell Technologies (HON) and Schwab US Dividend Equity ETF (SCHD) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HON and SCHD?
Over the past 3 years, HON and SCHD moved with a correlation of 0.51, which is moderate. The past 12 months show a weaker link (0.35) than the 3-year average (0.51). Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 151.6 %².
Among the 32 assets we track against HON, SCHD ranks #15 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SCHD outperformed by 26.9 percentage points (+2.7% for HON against +29.6% for SCHD). On a rolling one-year basis the correlation drifted between 0.44 and 0.75, a moderate band. Risk is not evenly split, since HON carries 1.8 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.
HON vs SCHD: side by side
| HON (Honeywell Technologies) | SCHD (Schwab US Dividend Equity ETF) | |
|---|---|---|
| 1-year return | +2.7% | +29.6% |
| 5-year return | +6.6% | +60.9% |
| Volatility (ann.) | 23.2% | 12.9% |
| Beta vs S&P 500 | 0.74 | 0.52 |
| Max drawdown (3Y) | -22.1% | -16.1% |
| Market cap | $69.9B | – |
| P/E (trailing) | 8.5 | – |
| Dividend yield | 4.26% | 3.13% |
| Expense ratio | – | 0.06% |
| Assets under management | – | $104.2B |
| Sector / category | Industrials | ETF · Dividend |
SCHD, Schwab ETFs's Large Value fund, carries $104.2B under management, 101 holdings, a 0.06% expense ratio, a 3.13% trailing dividend yield.
Year-by-year returns
| Year | HON | SCHD |
|---|---|---|
| 2022 | +4.9% | -3.3% |
| 2023 | +0.0% | +4.5% |
| 2024 | +10.0% | +11.7% |
| 2025 | -6.4% | +4.3% |
| 2026 | +9.2% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HON and SCHD good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HON and SCHD?
As of 2026-08-27, the correlation of weekly returns between HON and SCHD is 0.51 over 3 years, 0.35 over 1 year and 0.60 over 5 years.
Is SCHD a good diversifier for HON?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
A reading of 0.51 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-schd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hon-vs-schd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HON correlations · SCHD correlations
