HWM vs. AJG
HWM (Howmet Aerospace Inc.) and AJG (Arthur J. Gallagher & Co.) are both stocks. HWM operates in Specialty Industrial Machinery (Industrials), while AJG operates in Insurance Brokers (Financial Services). Over the past 10 years, HWM returned 33.28%/yr vs 18.56%/yr for AJG. At a 0.25 correlation, their price movements are largely independent.
Performance
HWM vs. AJG - Performance Comparison
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Returns By Period
In the year-to-date period, HWM achieves a 29.23% return, which is significantly higher than AJG's -14.95% return. Over the past 10 years, HWM has outperformed AJG with an annualized return of 33.28%, while AJG has yielded a comparatively lower 18.56% annualized return.
HWM
- 1D
- 0.03%
- 1M
- -3.09%
- YTD
- 29.23%
- 6M
- 33.60%
- 1Y
- 54.66%
- 3Y*
- 79.69%
- 5Y*
- 50.00%
- 10Y*
- 33.28%
AJG
- 1D
- -1.00%
- 1M
- 14.28%
- YTD
- -14.95%
- 6M
- -13.82%
- 1Y
- -30.92%
- 3Y*
- 2.53%
- 5Y*
- 9.77%
- 10Y*
- 18.56%
HWM vs. AJG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HWM Howmet Aerospace Inc. | 29.23% | 87.95% | 102.71% | 37.84% | 24.16% | 11.67% | 21.03% | 83.54% | -37.43% | 48.40% |
AJG Arthur J. Gallagher & Co. | -14.95% | -8.03% | 27.34% | 20.51% | 12.44% | 39.02% | 32.12% | 31.79% | 19.19% | 25.04% |
Correlation
The correlation between HWM and AJG is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 1984 | 0.25 |
Over the past year, the correlation between HWM and AJG has dropped to 0.03 - well below their long-term average of 0.25, suggesting their price drivers have been diverging.
Fundamentals
HWM:
$4.31
AJG:
$5.74
HWM:
61.42
AJG:
38.12
HWM:
1.04
AJG:
3.95
HWM:
12.42
AJG:
4.08
HWM:
$8.62B
AJG:
$13.94B
HWM:
$2.81B
AJG:
$7.63B
HWM:
$2.66B
AJG:
$3.66B
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Return for Risk
HWM vs. AJG — Risk / Return Rank
HWM
AJG
HWM vs. AJG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Howmet Aerospace Inc. (HWM) and Arthur J. Gallagher & Co. (AJG). 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.
| HWM | AJG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.86 | ||
| Sortino ratioReturn per unit of downside risk | +4.00 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.81 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | -0.76 | +4.22 |
| Martin ratioReturn relative to average drawdown | 9.77 | -1.30 | +11.07 |
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Drawdowns
HWM vs. AJG - Drawdown Comparison
The maximum HWM drawdown since its inception was -88.30%, which is greater than AJG's maximum drawdown of -57.49%. Use the drawdown chart below to compare losses from any high point for HWM and AJG.
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Drawdown Indicators
| HWM | AJG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.30% | -57.49% | -30.81% |
Max Drawdown (1Y)Largest decline over 1 year | -15.89% | -40.64% | +24.75% |
Max Drawdown (3Y)Largest decline over 3 years | -19.41% | -44.40% | +24.99% |
Max Drawdown (5Y)Largest decline over 5 years | -21.61% | -44.40% | +22.79% |
Max Drawdown (10Y)Largest decline over 10 years | -64.81% | -44.40% | -20.41% |
Current DrawdownCurrent decline from peak | -3.26% | -36.46% | +33.20% |
Average DrawdownAverage peak-to-trough decline | -31.00% | -12.83% | -18.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.61% | 23.87% | -18.26% |
Volatility
HWM vs. AJG - Volatility Comparison
Howmet Aerospace Inc. (HWM) has a higher volatility of 11.03% compared to Arthur J. Gallagher & Co. (AJG) at 8.37%. This indicates that HWM's price experiences larger fluctuations and is considered to be riskier than AJG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HWM | AJG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.03% | 8.37% | +2.66% |
Volatility (6M)Calculated over the trailing 6-month period | 25.03% | 22.48% | +2.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.46% | 27.85% | +3.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.20% | 22.98% | +9.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.82% | 23.08% | +16.74% |
Dividends
HWM vs. AJG - Dividend Comparison
HWM's dividend yield for the trailing twelve months is around 0.18%, less than AJG's 1.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AJG Arthur J. Gallagher & Co. | 1.23% | 1.00% | 0.85% | 0.98% | 1.08% | 1.13% | 1.46% | 1.81% | 2.23% | 2.47% | 2.93% | 3.62% |
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
HWM vs. AJG - Financials Comparison
This section allows you to compare key financial metrics between Howmet Aerospace Inc. and Arthur J. Gallagher & Co.. 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
HWM vs. AJG - Profitability Comparison
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%.
AJG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported a gross profit of 1.42B and revenue of 3.63B. Therefore, the gross margin over that period was 39.1%.
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%.
AJG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported an operating income of 341.00M and revenue of 3.63B, resulting in an operating margin of 9.4%.
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%.
AJG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported a net income of 151.00M and revenue of 3.63B, resulting in a net margin of 4.2%.
Frequently Asked Questions
HWM and AJG have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HWM has higher volatility (11.03%) compared to AJG (8.37%). In terms of maximum drawdown, HWM dropped -88.30% vs AJG's -57.49%.
HWM currently has the higher Sharpe Ratio (1.75 vs -1.12), 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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