ATI vs. HWM
ATI (Allegheny Technologies Incorporated) and HWM (Howmet Aerospace Inc.) are both stocks. Both are in the Industrials sector — ATI in Metal Fabrication, HWM in Aerospace & Defense. Over the past 10 years, ATI returned 31.31%/yr vs 33.28%/yr for HWM. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
ATI vs. HWM - Performance Comparison
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Returns By Period
In the year-to-date period, ATI achieves a 72.95% return, which is significantly higher than HWM's 29.23% return. Over the past 10 years, ATI has underperformed HWM with an annualized return of 31.31%, while HWM has yielded a comparatively higher 33.28% annualized return.
ATI
- 1D
- -0.51%
- 1M
- 28.70%
- YTD
- 72.95%
- 6M
- 82.16%
- 1Y
- 133.59%
- 3Y*
- 69.52%
- 5Y*
- 52.82%
- 10Y*
- 31.31%
HWM
- 1D
- 0.03%
- 1M
- -2.83%
- YTD
- 29.23%
- 6M
- 33.60%
- 1Y
- 54.95%
- 3Y*
- 79.69%
- 5Y*
- 50.00%
- 10Y*
- 33.28%
ATI vs. HWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ATI Allegheny Technologies Incorporated | 72.95% | 108.50% | 21.05% | 52.28% | 87.45% | -5.01% | -18.83% | -5.10% | -9.82% | 51.54% |
HWM Howmet Aerospace Inc. | 29.23% | 87.95% | 102.71% | 37.84% | 24.16% | 11.67% | 21.03% | 83.54% | -37.43% | 48.40% |
Correlation
The correlation between ATI and HWM is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Nov 29, 1999 | 0.58 |
The correlation between ATI and HWM has been stable across timeframes, ranging from 0.58 to 0.66 - a consistent structural relationship.
Fundamentals
ATI:
$4.02
HWM:
$4.31
ATI:
49.39
HWM:
61.42
ATI:
2.13
HWM:
1.04
ATI:
4.57
HWM:
12.42
ATI:
$4.59B
HWM:
$8.62B
ATI:
$1.04B
HWM:
$2.81B
ATI:
$773.10M
HWM:
$2.66B
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Return for Risk
ATI vs. HWM — Risk / Return Rank
ATI
HWM
ATI vs. HWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Allegheny Technologies Incorporated (ATI) and Howmet Aerospace Inc. (HWM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ATI | HWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.30 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 5.40 | 3.46 | +1.94 |
| Martin ratioReturn relative to average drawdown | 13.48 | 9.77 | +3.71 |
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Drawdowns
ATI vs. HWM - Drawdown Comparison
The maximum ATI drawdown since its inception was -94.72%, which is greater than HWM's maximum drawdown of -88.30%. Use the drawdown chart below to compare losses from any high point for ATI and HWM.
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Drawdown Indicators
| ATI | HWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.72% | -88.30% | -6.42% |
Max Drawdown (1Y)Largest decline over 1 year | -25.31% | -15.89% | -9.42% |
Max Drawdown (3Y)Largest decline over 3 years | -38.02% | -19.41% | -18.61% |
Max Drawdown (5Y)Largest decline over 5 years | -39.03% | -21.61% | -17.42% |
Max Drawdown (10Y)Largest decline over 10 years | -82.43% | -64.81% | -17.62% |
Current DrawdownCurrent decline from peak | -0.51% | -3.26% | +2.75% |
Average DrawdownAverage peak-to-trough decline | -60.76% | -31.00% | -29.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.12% | 5.61% | +4.51% |
Volatility
ATI vs. HWM - Volatility Comparison
Allegheny Technologies Incorporated (ATI) has a higher volatility of 13.44% compared to Howmet Aerospace Inc. (HWM) at 11.03%. This indicates that ATI's price experiences larger fluctuations and is considered to be riskier than HWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ATI | HWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.44% | 11.03% | +2.41% |
Volatility (6M)Calculated over the trailing 6-month period | 29.89% | 25.03% | +4.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.63% | 31.46% | +11.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.12% | 32.20% | +10.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.55% | 39.82% | +11.73% |
Dividends
ATI vs. HWM - Dividend Comparison
ATI has not paid dividends to shareholders, while HWM's dividend yield for the trailing twelve months is around 0.18%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ATI Allegheny Technologies Incorporated | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.51% | 5.51% |
HWM Howmet Aerospace Inc. | 0.18% | 0.21% | 0.24% | 0.31% | 0.25% | 0.13% | 0.05% | 0.39% | 1.42% | 0.88% | 40.49% | 1.22% |
Financials
ATI vs. HWM - Financials Comparison
This section allows you to compare key financial metrics between Allegheny Technologies Incorporated and Howmet Aerospace Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
ATI vs. HWM - Profitability Comparison
ATI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Allegheny Technologies Incorporated reported a gross profit of 262.90M and revenue of 1.15B. Therefore, the gross margin over that period was 22.8%.
HWM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Howmet Aerospace Inc. reported a gross profit of 854.00M and revenue of 2.31B. Therefore, the gross margin over that period was 36.9%.
ATI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Allegheny Technologies Incorporated reported an operating income of 163.80M and revenue of 1.15B, resulting in an operating margin of 14.2%.
HWM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Howmet Aerospace Inc. reported an operating income of 734.00M and revenue of 2.31B, resulting in an operating margin of 31.7%.
ATI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Allegheny Technologies Incorporated reported a net income of 118.20M and revenue of 1.15B, resulting in a net margin of 10.3%.
HWM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Howmet Aerospace Inc. reported a net income of 580.00M and revenue of 2.31B, resulting in a net margin of 25.1%.
Frequently Asked Questions
ATI and HWM have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ATI has higher volatility (13.44%) compared to HWM (11.03%). In terms of maximum drawdown, ATI dropped -94.72% vs HWM's -88.30%.
ATI currently has the higher Sharpe Ratio (3.21 vs 1.75), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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