NET vs. HWM
NET (Cloudflare, Inc.) and HWM (Howmet Aerospace Inc.) are both stocks. NET operates in Software - Infrastructure (Technology), while HWM operates in Aerospace & Defense (Industrials). Over the past 5 years, NET returned 19.99%/yr vs 51.02%/yr for HWM. At a 0.23 correlation, their price movements are largely independent.
Performance
NET vs. HWM - Performance Comparison
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Returns By Period
In the year-to-date period, NET achieves a 19.56% return, which is significantly lower than HWM's 32.04% return.
NET
- 1D
- 3.16%
- 1M
- 19.31%
- YTD
- 19.56%
- 6M
- 19.83%
- 1Y
- 37.06%
- 3Y*
- 51.62%
- 5Y*
- 19.99%
- 10Y*
- —
HWM
- 1D
- 2.18%
- 1M
- 3.88%
- YTD
- 32.04%
- 6M
- 37.25%
- 1Y
- 58.32%
- 3Y*
- 81.03%
- 5Y*
- 51.02%
- 10Y*
- 32.89%
NET vs. HWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NET Cloudflare, Inc. | 19.56% | 83.09% | 29.33% | 84.16% | -65.62% | 73.05% | 345.43% | -5.22% |
HWM Howmet Aerospace Inc. | 32.04% | 87.95% | 102.71% | 37.84% | 24.16% | 11.67% | 21.03% | 13.96% |
Correlation
The correlation between NET and HWM is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2019 | 0.23 |
Fundamentals
NET:
$83.12B
HWM:
$108.99B
NET:
-$0.25
HWM:
$4.31
NET:
35.27
HWM:
12.69
NET:
54.44
HWM:
19.74
NET:
$2.33B
HWM:
$8.62B
NET:
$1.71B
HWM:
$2.81B
NET:
$168.53M
HWM:
$2.66B
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Return for Risk
NET vs. HWM — Risk / Return Rank
NET
HWM
NET vs. HWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cloudflare, Inc. (NET) 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.
| NET | HWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.31 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.01 | 3.69 | -2.68 |
| Martin ratioReturn relative to average drawdown | 2.17 | 10.43 | -8.26 |
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Drawdowns
NET vs. HWM - Drawdown Comparison
The maximum NET drawdown since its inception was -82.58%, smaller than the maximum HWM drawdown of -88.30%. Use the drawdown chart below to compare losses from any high point for NET and HWM.
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Drawdown Indicators
| NET | HWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.58% | -88.30% | +5.72% |
Max Drawdown (1Y)Largest decline over 1 year | -36.76% | -15.89% | -20.87% |
Max Drawdown (3Y)Largest decline over 3 years | -45.00% | -19.41% | -25.59% |
Max Drawdown (5Y)Largest decline over 5 years | -82.58% | -21.22% | -61.36% |
Max Drawdown (10Y)Largest decline over 10 years | — | -64.81% | — |
Current DrawdownCurrent decline from peak | -13.55% | -1.15% | -12.40% |
Average DrawdownAverage peak-to-trough decline | -37.50% | -31.00% | -6.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.11% | 5.61% | +11.50% |
Volatility
NET vs. HWM - Volatility Comparison
Cloudflare, Inc. (NET) has a higher volatility of 20.92% compared to Howmet Aerospace Inc. (HWM) at 11.27%. This indicates that NET'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
| NET | HWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.92% | 11.27% | +9.65% |
Volatility (6M)Calculated over the trailing 6-month period | 53.98% | 25.05% | +28.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.15% | 31.58% | +28.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.54% | 32.22% | +36.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.76% | 39.82% | +27.94% |
Dividends
NET vs. HWM - Dividend Comparison
NET 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
NET Cloudflare, 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% |
Financials
NET vs. HWM - Financials Comparison
This section allows you to compare key financial metrics between Cloudflare, Inc. 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
NET vs. HWM - Profitability Comparison
NET - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Cloudflare, Inc. reported a gross profit of 455.60M and revenue of 639.76M. Therefore, the gross margin over that period was 71.2%.
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%.
NET - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Cloudflare, Inc. reported an operating income of -61.99M and revenue of 639.76M, resulting in an operating margin of -9.7%.
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%.
NET - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Cloudflare, Inc. reported a net income of -22.93M and revenue of 639.76M, resulting in a net margin of -3.6%.
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
NET and HWM have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NET has higher volatility (20.92%) compared to HWM (11.27%). In terms of maximum drawdown, NET dropped -82.58% vs HWM's -88.30%.
HWM currently has the higher Sharpe Ratio (1.86 vs 0.62), 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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