HWM vs. ASTS

Last updated Jun 10, 2026

HWM (Howmet Aerospace Inc.) and ASTS (AST SpaceMobile, Inc.) are both stocks. HWM operates in Specialty Industrial Machinery (Industrials), while ASTS operates in Telecom Services (Communication Services). Over the past 5 years, HWM returned 49.44%/yr vs 55.49%/yr for ASTS. At a 0.22 correlation, their price movements are largely independent.

Performance

HWM vs. ASTS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Howmet Aerospace Inc. (HWM) and AST SpaceMobile, Inc. (ASTS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HWM achieves a 25.56% return, which is significantly higher than ASTS's 22.14% return.

HWM

• 1D: 4.30%
• 1M: -4.95%
• YTD: 25.56%
• 6M: 34.52%
• 1Y: 49.10%
• 3Y*: 78.07%
• 5Y*: 49.44%
• 10Y*: 32.34%

ASTS

• 1D: -3.64%
• 1M: 18.20%
• YTD: 22.14%
• 6M: 21.79%
• 1Y: 154.77%
• 3Y*: 148.94%
• 5Y*: 55.49%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HWM vs. ASTS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HWM Howmet Aerospace Inc.	25.56%	87.95%	102.71%	37.84%	24.16%	11.67%	21.03%	12.09%
ASTS AST SpaceMobile, Inc.	22.14%	244.22%	249.92%	25.10%	-39.29%	-41.53%	37.59%	1.02%

Correlation

The correlation between HWM and ASTS is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (All Time) Calculated using the full available price history since Nov 1, 2019	0.22

Fundamentals

Market Cap HWM : $103.64B ASTS : $25.79B
EPS HWM : $4.31 ASTS : -$1.84
PS Ratio HWM : 12.07 ASTS : 277.17
PB Ratio HWM : 18.77 ASTS : 9.69
Total Revenue (TTM) HWM : $8.62B ASTS : $84.94M
Gross Profit (TTM) HWM : $2.81B ASTS : -$22.93M
EBITDA (TTM) HWM : $2.66B ASTS : -$536.80M

Return for Risk

HWM vs. ASTS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HWM

HWM Risk / Return Rank: 83
HWM Sharpe Ratio Rank: 85
HWM Sortino Ratio Rank: 82
HWM Omega Ratio Rank: 79
HWM Calmar Ratio Rank: 84
HWM Martin Ratio Rank: 86

ASTS

ASTS Risk / Return Rank: 81
ASTS Sharpe Ratio Rank: 83
ASTS Sortino Ratio Rank: 80
ASTS Omega Ratio Rank: 76
ASTS Calmar Ratio Rank: 85
ASTS Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HWM vs. ASTS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Howmet Aerospace Inc. (HWM) and AST SpaceMobile, Inc. (ASTS). 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.

	HWM	ASTS	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.50	+0.10
Sortino ratio: Return per unit of downside risk	2.32	2.21	+0.11
Omega ratio: Gain probability vs. loss probability	1.27	1.26	+0.02
Calmar ratio: Return relative to maximum drawdown	3.11	3.27	-0.16
Martin ratio: Return relative to average drawdown	8.83	6.44	+2.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HWM vs. ASTS - Sharpe Ratio Comparison

The current HWM Sharpe Ratio is 1.60, which is comparable to the ASTS Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of HWM and ASTS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HWM	ASTS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.60	1.50	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.55	0.51	+1.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.40	-0.18

Drawdowns

HWM vs. ASTS - Drawdown Comparison

The maximum HWM drawdown since its inception was -88.30%, roughly equal to the maximum ASTS drawdown of -91.07%. Use the drawdown chart below to compare losses from any high point for HWM and ASTS.

Drawdown Indicators

	HWM	ASTS	Difference
Max Drawdown Largest peak-to-trough decline	-88.30%	-91.07%	+2.77%
Max Drawdown (1Y) Largest decline over 1 year	-15.89%	-47.69%	+31.80%
Max Drawdown (3Y) Largest decline over 3 years	-19.41%	-70.66%	+51.25%
Max Drawdown (5Y) Largest decline over 5 years	-22.40%	-85.57%	+63.17%
Max Drawdown (10Y) Largest decline over 10 years	-64.81%	—	—
Current Drawdown Current decline from peak	-6.00%	-33.35%	+27.35%
Average Drawdown Average peak-to-trough decline	-31.01%	-43.35%	+12.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.58%	24.15%	-18.57%

Volatility

HWM vs. ASTS - Volatility Comparison

The current volatility for Howmet Aerospace Inc. (HWM) is 8.94%, while AST SpaceMobile, Inc. (ASTS) has a volatility of 38.98%. This indicates that HWM experiences smaller price fluctuations and is considered to be less risky than ASTS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HWM	ASTS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.94%	38.98%	-30.04%
Volatility (6M) Calculated over the trailing 6-month period	24.23%	82.97%	-58.74%
Volatility (1Y) Calculated over the trailing 1-year period	30.91%	104.74%	-73.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.08%	109.29%	-77.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.79%	100.48%	-60.69%

Dividends

HWM vs. ASTS - Dividend Comparison

HWM's dividend yield for the trailing twelve months is around 0.19%, while ASTS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASTS AST SpaceMobile, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HWM Howmet Aerospace Inc.	0.19%	0.21%	0.24%	0.31%	0.25%	0.13%	0.05%	0.39%	1.42%	0.88%	40.49%	1.22%

Financials

Frequently Asked Questions

Can I hold both HWM and ASTS in my portfolio?

HWM and ASTS have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HWM or ASTS?

ASTS has higher volatility (38.98%) compared to HWM (8.94%). In terms of maximum drawdown, HWM dropped -88.30% vs ASTS's -91.07%.

Which has better risk-adjusted returns?

HWM currently has the higher Sharpe Ratio (1.60 vs 1.50), 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.