HWM vs LICN: Correlation
Howmet Aerospace (HWM) and Lichen International Limited - Class A (LICN) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HWM and LICN?
On 3 years of weekly data the HWM/LICN correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.03) runs above the 3-year figure (-0.18). The 5-year figure is n/a, and annualized covariance runs at -50018.7 %².
Within HWM's tracked universe of 35 assets, LICN comes in at #30 by 3-year correlation. The last year tells two different stories: HWM led by 127.4 percentage points, +52.7% for HWM against -74.7% for LICN. Risk is not evenly split, since LICN carries 265.7 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.
HWM vs LICN: side by side
| HWM (Howmet Aerospace) | LICN (Lichen International Limited - Class A) | |
|---|---|---|
| 1-year return | +52.7% | -74.7% |
| 5-year return | +754.4% | n/a |
| Volatility (ann.) | 32.1% | 8528.0% |
| Beta vs S&P 500 | 1.24 | -80.22 |
| Max drawdown (3Y) | -19.4% | -98.4% |
| Market cap | $106.7B | – |
| P/E (trailing) | 58.2 | – |
| Dividend yield | 0.18% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | HWM | LICN |
|---|---|---|
| 2022 | +24.2% | – |
| 2023 | +37.8% | – |
| 2024 | +102.7% | -91.0% |
| 2025 | +88.0% | +1484.3% |
| 2026 | +30.7% | -56.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HWM and LICN good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between HWM and LICN?
As of 2026-08-27, the correlation of weekly returns between HWM and LICN is -0.18 over 3 years, 0.03 over 1 year and n/a over 5 years.
Is LICN a good diversifier for HWM?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
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/hwm-vs-licn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hwm-vs-licn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HWM correlations · LICN correlations
