HWM vs PH: Correlation
Howmet Aerospace (HWM) and Parker Hannifin (PH) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HWM and PH?
Across a 3-year window, the weekly returns of HWM and PH correlate at 0.53, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.43 versus 0.53 over 3 years. Stretching to 5 years gives 0.60, with an annualized covariance of 450.3 %².
By 3-year correlation, PH places #19 of the 35 assets tracked against HWM. The last year tells two different stories: HWM led by 19.9 percentage points, +52.7% for HWM against +32.8% for PH. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.11 to 0.81.
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 PH: side by side
| HWM (Howmet Aerospace) | PH (Parker Hannifin) | |
|---|---|---|
| 1-year return | +52.7% | +32.8% |
| 5-year return | +754.4% | +256.4% |
| Volatility (ann.) | 32.1% | 26.6% |
| Beta vs S&P 500 | 1.24 | 1.16 |
| Max drawdown (3Y) | -19.4% | -26.8% |
| Market cap | $106.7B | $127.5B |
| P/E (trailing) | 58.2 | 36.5 |
| Dividend yield | 0.18% | 0.71% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | HWM | PH |
|---|---|---|
| 2022 | +24.2% | -6.9% |
| 2023 | +37.8% | +60.8% |
| 2024 | +102.7% | +39.6% |
| 2025 | +88.0% | +39.5% |
| 2026 | +30.7% | +15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HWM and PH good diversifiers for each other?
To a limited degree. At 0.53 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 HWM and PH?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.43 over the last year and 0.60 over 5 years.
Is PH a good diversifier for HWM?
To a limited degree. At 0.53 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 0.53 mean?
On the −1 to +1 scale, 0.53 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hwm-vs-ph.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hwm-vs-ph/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HWM correlations · PH correlations
