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Relative Intelligence · Aerospace & Defense

How GE Aerospace (GE) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on GE alone. It places GE (GE Aerospace) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where GE stands in the market, and of the alternatives worth a closer look.

Period covered: GE's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

On this page12 sections

Key findings

How much would $10,000 in GE have grown?

This chart tracks a hypothetical $10,000 investment in GE over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of GE over the same span and GE's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Choose a period

From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 720 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of GE; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M199720022007201220172022$10,000$100,000$1M19972004201120182025
  • HEI$1M+13,374% total · +18.4% a year
  • MOG-A$350,288+3,403% total · +13.0% a year
  • CRS$297,321+2,873% total · +12.4% a year
  • RTX$288,741+2,787% total · +12.3% a year
  • GD$272,943+2,629% total · +12.1% a year
  • LMT$194,815+1,848% total · +10.8% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • HWM$100,078+901% total · +8.3% a year
  • HON$84,134+741% total · +7.6% a year
  • GE$54,821+448% total · +6.0% a year
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From the end of September 2021 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 121 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of GE; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$20,000$50,000$100,000202120222023202420252026$10,000$20,000$50,000$100,000202120222023202420252026
  • CRS$125,806+1,158% total · +65.9% a year
  • ATI$113,890+1,039% total · +62.7% a year
  • HWM$73,554+636% total · +49.0% a year
  • MPC$71,516+615% total · +48.2% a year
  • PBR-A$67,821+578% total · +46.6% a year
  • MOG-A$52,115+421% total · +39.1% a year
  • GE$49,841+398% total · +37.9% a year
  • RTX$24,048+140% total · +19.2% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • GD$18,801+88.0% total · +13.5% a year
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GE at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

The company

Market value
$311B
Industry
Aerospace & Defense
Price history from
October 1986

Returns

Past 1 year
−0.4%total return
Past 3 years
+261%+53.3% a year
Past 5 years
+366%+36.0% a year
Past 10 years
+139%+9.1% a year
Best calendar year
+95.8%2023
Worst calendar year
−55.4%2018
Losing years
11 of 29full calendar years

Risk

Volatility
31.0%typical yearly swing, 5 years
Sharpe ratio
1.15return per unit of risk, 5 years
Worst decline ever
−85.5%Aug 2000 to Mar 2009
From its all-time high
−21.2%below the peak

GE against the whole market

Where GE ranks among every stock and fund, and what across the market has done better.

How does GE rank among all stocks?

This section ranks GE on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history. Where the comparisons with its popular alternatives show how GE stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.

MeasureGERankStanding
1-year return−0.4%1,997 of 3,287bottom 40%
3-year return+261%284 of 3,017top 9%
5-year return+366%113 of 2,893top 4%
10-year return+139%1,129 of 2,202bottom 50%
Volatility, 5 years31.0%823 of 2,893top 28%
Sharpe ratio, 5 years1.1532 of 2,893top 1%
Worst decline, past 10 years−80.9%1,671 of 2,187bottom 25%

What has beaten GE on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). GE sits where the dashed lines cross. Anything in the green box above and to the left earned more than GE with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to GE. 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than GEGE: +36.0% a year, volatility 31.0%SPY (S&P 500): +12.7% a year, volatility 17.1%HWM: +47.3% a year, volatility 32.5%ATI: +61.8% a year, volatility 42.9%CRS: +63.9% a year, volatility 46.5%LMT: +11.1% a year, volatility 24.2%NOC: +7.6% a year, volatility 26.1%AEM: +29.5% a year, volatility 38.4%ESLT: +39.8% a year, volatility 34.6%EMBJ: +32.8% a year, volatility 45.0%RELX: +7.0% a year, volatility 24.1%CAH: +42.1% a year, volatility 24.7%MCK: +38.7% a year, volatility 25.0%PBR-A: +51.8% a year, volatility 37.5%MPC: +51.2% a year, volatility 33.4%LLY: +40.7% a year, volatility 32.8%KO: +14.7% a year, volatility 16.8%SMH: +33.4% a year, volatility 36.9%HDV: +12.9% a year, volatility 13.0%GESPY (S&P 500)HWMATICRSLMTNOCAEMESLTEMBJRELXCAHMCKPBR-AMPCLLYKOSMHHDV10.0%20.0%30.0%40.0%50.0%0.0%20.0%40.0%60.0%80.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than GEGE: +36.0% a year, volatility 31.0%SPY (S&P 500): +12.7% a year, volatility 17.1%HWM: +47.3% a year, volatility 32.5%ATI: +61.8% a year, volatility 42.9%CRS: +63.9% a year, volatility 46.5%LMT: +11.1% a year, volatility 24.2%NOC: +7.6% a year, volatility 26.1%AEM: +29.5% a year, volatility 38.4%ESLT: +39.8% a year, volatility 34.6%EMBJ: +32.8% a year, volatility 45.0%RELX: +7.0% a year, volatility 24.1%CAH: +42.1% a year, volatility 24.7%MCK: +38.7% a year, volatility 25.0%PBR-A: +51.8% a year, volatility 37.5%MPC: +51.2% a year, volatility 33.4%LLY: +40.7% a year, volatility 32.8%KO: +14.7% a year, volatility 16.8%SMH: +33.4% a year, volatility 36.9%HDV: +12.9% a year, volatility 13.0%GESPY (S&P 500)HWMATINOCAEMESLTEMBJRELXCAHMCKPBR-AMPCLLYKOSMH
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market

Is there a better investment than GE?

Investments that beat GE over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat GE over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes. It checks GE's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than GE follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than GE's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× GE's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than GE's.

InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with GE?lower diversifies moreExpenseper year
GEGE Aerospace · this page
+36.0%31.0%1.15−80.9%+139%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.640.09%
Popular alternativesbest 5 shownThe investments people most often weigh against GE. 5 of 21 passed at least one test.
HWMHowmet Aerospace Inc. · Aerospace & Defense
On the frontierHigher return, similar volatilityHigher Sharpe, smaller worst decline+47.3%32.5%1.36−68.9%+1,028%0.65—
ATIATI Inc. · Metals & Mining
On the frontierHigher return in most periods+61.8%42.9%1.34−82.4%+929%0.58—
CRSCarpenter Technology Corporation · Metals & Mining
On the frontierHigher Sharpe, smaller worst decline+63.9%46.5%1.30−74.7%+1,021%0.60—
LMTLockheed Martin Corporation · Aerospace & Defense
Smaller losses in recent crashes+11.1%24.2%0.56−36.7%+204%0.22—
NOCNorthrop Grumman Corporation · Aerospace & Defense
Smaller losses in recent crashes+7.6%26.1%0.41−37.8%+188%0.08—
Same and neighboring categories, and shared themesbest 4 shownEverything else in Aerospace & Defense and the categories next to it (Business Services, Airlines, Metals & Mining, Industrial Machinery), plus GE's specific themes. 4 of 124 passed at least one test.
AEMAgnico Eagle Mines Limited · Gold Mining
Higher return in most periods+29.5%38.4%0.87−54.2%+352%0.24—
ESLTElbit Systems Ltd. · Aerospace & Defense
Higher return in most periods+39.8%34.6%1.15−35.4%+765%0.04—
EMBJEmbraer S.A. · Aerospace & Defense
Higher return in most periods+32.8%45.0%0.86−85.2%+283%0.54—
RELXRELX Plc · Business Services
Smaller losses in recent crashes+7.0%24.1%0.40−49.9%+167%0.38—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 128 of 3,489 passed at least one test.
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+42.1%24.7%1.55−46.1%+349%0.36—
MCKMcKesson Corporation · Health Care Distribution
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+38.7%25.0%1.44−38.1%+586%0.19—
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
On the frontierHigher Sharpe, smaller worst declineHigher return in most periods+51.8%37.5%1.31−71.7%+768%0.09—
MPCMarathon Petroleum Corporation · Oil & Gas
On the frontierHigher return, similar volatilityHigher return in most periods+51.2%33.4%1.41−79.7%+1,387%0.23—
LLYEli Lilly and Company · Pharmaceuticals
Higher return, similar volatilityHigher return in most periods+40.7%32.8%1.21−34.5%+1,807%0.08—
KOThe Coca-Cola Company · Food & Beverages
On the frontierSmaller losses in recent crashes+14.7%16.8%0.91−37.0%+204%0.25—
SMHVanEck Semiconductor ETF · Semiconductors
Higher return in most periods+33.4%36.9%0.97−45.3%+1,665%0.500.35%
HDViShares Core High Dividend ETF · US Dividend Equity
On the frontierSmaller losses in recent crashes+12.9%13.0%1.00−37.0%+172%0.490.08%
What these numbers mean for GE
Annual return
GE returned 36.0% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $46,600. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
GE's volatility over the past 5 years was 31.0%, 1.8 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, GE's return lands within 31.0% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
GE's Sharpe ratio over the past 5 years was 1.15, against 0.79 for the S&P 500, so GE earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
GE's worst fall from a peak to a low over the past 10 years was 80.9%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 80.9% fall takes a 425% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, GE's monthly returns had a correlation of 0.64 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against GE instead: the lower it is, the more that option would diversify a GE holding. Guide: Correlation and diversification →
Show all 2 stocks and funds worth at least $500 million that earned more than GE with less volatility

Out of 3,633 tested over 5 years. Best first; funds that hold the same thing are listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with GEExpense
1
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.36—
2
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.19—

How do GE's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at GE, which divides the map into what did better or worse on each measure.

Green points earned more than GE with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityGE: 36.0% a year, volatility 31.0%SPY (S&P 500): 12.7% a year, volatility 17.1%AER: 18.4% a year, volatility 31.5%WWD: 23.8% a year, volatility 32.3%HXL: 10.2% a year, volatility 32.2%DAL: 14.6% a year, volatility 40.8%LUV: −2.7% a year, volatility 38.6%BA: −2.5% a year, volatility 36.8%UAL: 16.3% a year, volatility 49.0%ATI: 61.8% a year, volatility 42.9%HWM: 47.3% a year, volatility 32.5%CRS: 63.9% a year, volatility 46.5%MOG-A: 36.6% a year, volatility 32.0%GD: 12.9% a year, volatility 20.8%RTX: 18.6% a year, volatility 24.3%LMT: 11.1% a year, volatility 24.2%HON: 1.5% a year, volatility 22.8%HEI: 17.3% a year, volatility 27.8%TDG: 16.4% a year, volatility 28.0%NOC: 7.6% a year, volatility 26.1%CW: 30.8% a year, volatility 28.7%TXT: 0.8% a year, volatility 27.6%WOOD: −3.3% a year, volatility 19.7%GESPY (S&P 500)AERWWDHXLDALLUVBAUALATIHWMCRSMOG-ARTXLMTHONHEITDGNOCCWTXTWOOD10.0%20.0%30.0%40.0%50.0%−20.0%0.0%20.0%40.0%60.0%80.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityGE: 36.0% a year, volatility 31.0%SPY (S&P 500): 12.7% a year, volatility 17.1%AER: 18.4% a year, volatility 31.5%WWD: 23.8% a year, volatility 32.3%HXL: 10.2% a year, volatility 32.2%DAL: 14.6% a year, volatility 40.8%LUV: −2.7% a year, volatility 38.6%BA: −2.5% a year, volatility 36.8%UAL: 16.3% a year, volatility 49.0%ATI: 61.8% a year, volatility 42.9%HWM: 47.3% a year, volatility 32.5%CRS: 63.9% a year, volatility 46.5%MOG-A: 36.6% a year, volatility 32.0%GD: 12.9% a year, volatility 20.8%RTX: 18.6% a year, volatility 24.3%LMT: 11.1% a year, volatility 24.2%HON: 1.5% a year, volatility 22.8%HEI: 17.3% a year, volatility 27.8%TDG: 16.4% a year, volatility 28.0%NOC: 7.6% a year, volatility 26.1%CW: 30.8% a year, volatility 28.7%TXT: 0.8% a year, volatility 27.6%WOOD: −3.3% a year, volatility 19.7%GESPY (S&P 500)AERWWDHXLDALLUVBAUALATIHWMMOG-ARTXHONHEINOCCWTXTWOOD
All figures
InvestmentAnnual returnVolatility
CRS Carpenter Technology Corporation+63.9%46.5%
ATI ATI Inc.+61.8%42.9%
HWM Howmet Aerospace Inc.+47.3%32.5%
MOG-A Moog Inc.+36.6%32.0%
GE This pageGE Aerospace+36.0%31.0%
CW Curtiss-Wright Corporation+30.8%28.7%
WWD Woodward, Inc.+23.8%32.3%
RTX RTX Corporation+18.6%24.3%
AER AerCap Holdings N.V.+18.4%31.5%
HEI HEICO Corporation+17.3%27.8%
TDG TransDigm Group Incorporated+16.4%28.0%
UAL United Airlines Holdings, Inc.+16.3%49.0%
DAL Delta Air Lines, Inc.+14.6%40.8%
GD General Dynamics Corporation+12.9%20.8%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
LMT Lockheed Martin Corporation+11.1%24.2%
HXL Hexcel Corporation+10.2%32.2%
NOC Northrop Grumman Corporation+7.6%26.1%
HON Honeywell International Inc.+1.5%22.8%
TXT Textron Inc.+0.8%27.6%
BA The Boeing Company−2.5%36.8%
LUV Southwest Airlines Co.−2.7%38.6%
WOOD iShares Global Timber & Forestry ETF−3.3%19.7%
Open these 23 in EasyCompare

Has GE consistently beaten its popular alternatives?

This section compares GE with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than GE helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than GE over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
GE GE Aerospace (this page)—−5.9%−12.0%−1.0%−6.1%−0.4%+261%+366%+139%31.0%1.15−80.9%—$311B—
ATI QualifiedATI Inc.5/5 short3/3 longAll-weather−3.2%−1.7%+11.6%+53.6%+125%+415%+1,008%+929%42.9%1.34−82.4%—$25B—
HWM Aerospace & DefenseHowmet Aerospace Inc.2/5 short3/3 long−6.9%−22.1%−17.1%+0.1%+10.2%+391%+594%+1,028%32.5%1.36−68.9%—$84B—
CRS SteelCarpenter Technology Corporation2/5 short3/3 long−7.5%−32.8%−17.5%+10.3%+54.5%+521%+1,082%+1,021%46.5%1.30−74.7%—$18B—
MOG-A Aerospace & DefenseMoog Inc.5/5 short1/3 long−1.4%−7.9%+14.8%+46.2%+77.4%+228%+375%+595%32.0%1.14−63.7%—$12B—
GD Aerospace & DefenseGeneral Dynamics Corporation5/5 short1/3 long−2.2%−6.6%+4.7%+2.1%+4.0%+55.4%+83.3%+184%20.8%0.69−51.6%—$93B—
RTX Aerospace & DefenseRTX Corporation4/5 short1/3 long−0.5%−0.2%−0.5%+4.4%+22.1%+183%+135%+317%24.3%0.83−52.0%—$261B—
AER Rental & Leasing ServicesAerCap Holdings N.V.4/5 short1/3 long+1.0%−2.4%−0.8%+0.7%+20.6%+155%+133%+263%31.5%0.70−75.9%—$23B—
LMT Aerospace & DefenseLockheed Martin Corporation4/5 short1/3 long+2.5%+8.4%−4.4%+12.4%+11.3%+33.8%+69.0%+204%24.2%0.56−36.7%—$127B—
HON ConglomeratesHoneywell International Inc.4/5 short1/3 long+3.3%−5.4%−10.7%+5.2%+6.8%+27.0%+7.5%+160%22.8%0.18−43.0%—$68B—
HEI Aerospace & DefenseHEICO Corporation3/5 short1/3 long+0.7%−10.3%+4.5%−7.3%−2.4%+93.4%+122%+809%27.8%0.71−57.7%—$43B—
WWD Aerospace & DefenseWoodward, Inc.3/5 short1/3 long−0.3%−17.0%−17.6%+4.5%+29.1%+165%+191%+488%32.3%0.82−60.6%—$19B—
TDG Aerospace & DefenseTransDigm Group Incorporated2/5 short1/3 long+3.0%−5.1%−10.3%−15.9%−12.2%+62.5%+114%+543%28.0%0.69−62.6%—$63B—
NOC Aerospace & DefenseNorthrop Grumman Corporation2/5 short1/3 long+1.4%+2.4%−18.0%−7.7%−9.8%+15.6%+44.5%+188%26.1%0.41−37.8%—$76B—
CW Aerospace & DefenseCurtiss-Wright Corporation0/5 short1/3 long−12.8%−30.1%−32.1%−13.4%−11.6%+148%+283%+512%28.7%1.08−48.7%—$18B—
HXL Aerospace & DefenseHexcel Corporation4/5 short0/3 long+5.0%−13.5%+2.4%+19.5%+45.6%+44.9%+62.4%+122%32.2%0.46−68.5%—$6.9B—
DAL Airlines, Airports & Air ServicesDelta Air Lines, Inc.4/5 short0/3 long−6.8%−9.1%+8.5%+12.2%+25.5%+146%+97.6%+109%40.8%0.54−69.2%—$50B—
LUV Airlines, Airports & Air ServicesSouthwest Airlines Co.3/5 short0/3 long−5.1%−17.6%−4.3%−2.7%+17.2%+74.7%−12.6%+6.2%38.6%0.12−64.8%—$19B—
BA Aerospace & DefenseThe Boeing Company2/5 short0/3 long−5.3%−9.1%−15.4%−16.4%−12.2%+5.8%−11.9%+52.4%36.8%0.12−77.9%—$151B—
GEV Industrial - MachineryGE Vernova Inc.2/5 short0/3 long−5.9%−17.5%−10.0%+31.3%+50.1%—————−38.3%—$237B—
TXT Aerospace & DefenseTextron Inc.1/5 short0/3 long−2.8%−15.0%−15.6%−11.3%−6.3%+1.9%+4.1%+97.9%27.6%0.17−70.0%—$13B—
WOOD InternationaliShares Global Timber & Forestry ETF1/5 short0/3 long−6.1%−2.8%−7.6%−7.8%−3.5%+0.2%−15.2%+62.1%19.7%-0.07−50.2%0.39%$256M—
UAL Airlines, Airports & Air ServicesUnited Airlines Holdings, Inc.0/5 short0/3 long−14.5%−16.8%−1.2%−13.5%−3.5%+179%+113%+72.8%49.0%0.55−79.4%—$32B—
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How did GE do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where GE ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with GE and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of GE; gray means the two finished within a fraction of a point. The rank row places GE among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of GE20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
GE This pageGE Aerospace—+85.7%+64.9%+95.8%−10.9%+9.7%−2.7%+54.0%−55.4%−42.9%+4.6%+27.5%−6.7%+37.9%+21.3%+1.3%+24.3%−1.9%−53.9%+2.7%+9.3%−1.4%+20.7%+30.7%−37.7%−15.1%−6.0%+53.6%+41.0%+51.0%
Rank among alternativesTop quarter in 8 of 295 of 234 of 221 of 2217 of 229 of 227 of 225 of 2222 of 2222 of 2219 of 222 of 2220 of 2216 of 227 of 2212 of 2212 of 2219 of 2214 of 2115 of 2014 of 1714 of 1710 of 1712 of 1715 of 1711 of 1712 of 172 of 163 of 164 of 16
SPY S&P 500State Street SPDR S&P 500 ETF14 of 29+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%+33.5%
ATI ATI Inc.12 of 26+109%+21.1%+52.3%+87.5%−5.0%−18.8%−5.1%−9.8%+51.5%+43.9%−66.7%−0.5%+20.2%−35.1%−12.2%+25.0%+79.8%−70.0%−4.2%+153%+68.2%+66.5%+122%−60.8%+10.3%−26.5%———
HWM Howmet Aerospace Inc.13 of 29+87.9%+103%+37.8%+24.2%+11.7%−7.2%+83.6%−37.5%+48.4%−11.5%−36.3%+50.9%+25.6%+2.9%−42.9%−2.8%+51.3%−67.4%+26.4%+5.5%−1.8%−14.1%+75.3%−33.1%+9.8%−15.9%+133%+7.0%+11.8%
CRS Carpenter Technology Corporation14 of 29+86.2%+142%+94.5%+29.5%+2.7%−39.4%+42.1%−29.2%+43.4%+22.0%−37.4%−19.8%+22.1%+1.7%+30.0%+52.6%+35.9%−72.1%+48.0%+46.5%+21.7%+99.5%+142%−50.7%−18.9%+34.3%−15.0%−27.2%+35.3%
MOG-A Moog Inc.16 of 29+24.4%+36.8%+66.6%+9.8%+3.4%−6.2%+11.4%−10.0%+32.2%+8.4%−18.1%+9.0%+65.6%−6.6%+10.4%+36.2%−20.1%−20.2%+20.0%+34.6%−6.1%+37.7%+59.2%+42.4%+12.9%+7.3%−31.0%+11.9%+49.5%
GD General Dynamics Corporation15 of 29+30.4%+3.5%+7.1%+21.7%+43.8%−13.1%+14.8%−21.3%+19.9%+28.5%+1.8%+47.3%+41.0%+8.2%−3.9%+6.7%+21.6%−34.2%+21.4%+32.1%+10.6%+17.4%+16.0%+1.1%+3.6%+50.5%−9.2%+38.6%+25.3%
RTX RTX Corporation16 of 29+61.4%+40.8%−14.4%+20.0%+23.3%−16.7%+44.1%−14.5%+19.3%+17.3%−14.3%+3.4%+42.0%+15.3%−4.8%+16.4%+33.4%−28.4%+24.6%+13.8%+10.2%+10.9%+55.5%−2.6%−16.8%+22.7%+21.1%+51.8%+11.7%
AER AerCap Holdings N.V.7 of 19+51.7%+29.8%+27.4%−10.9%+43.5%−25.8%+55.2%−24.7%+26.4%−3.6%+11.2%+1.2%+180%+21.6%−20.1%+55.8%+201%−85.6%−10.0%——————————
LMT Lockheed Martin Corporation14 of 29+2.5%+10.0%−4.3%+40.5%+3.1%−6.5%+52.5%−16.4%+30.0%+18.4%+16.2%+33.8%+68.1%+19.5%+20.7%−3.9%−7.6%−18.6%+16.0%+47.0%+16.5%+10.0%−10.0%+24.7%+39.0%+57.9%−46.9%−12.6%+9.5%
HON Honeywell International Inc.16 of 29−6.3%+10.2%+0.1%+5.0%−0.2%+23.1%+36.9%−7.5%+35.2%+14.3%+4.9%+10.6%+45.8%+18.5%+3.8%+37.8%+21.9%−45.9%+37.5%+23.1%+6.6%+7.3%+41.6%−28.0%−27.7%−17.2%+31.0%+15.1%+16.7%
HEI HEICO Corporation20 of 29+36.2%+33.1%+16.6%+6.7%+9.1%+16.2%+47.5%+28.6%+53.0%+42.3%−9.7%+4.5%+63.2%+1.1%+43.6%+44.3%+14.5%−28.6%+40.7%+50.4%+14.9%+38.1%+73.2%−29.5%+6.7%−28.3%−30.8%+66.7%+78.9%
WWD Woodward, Inc.18 of 29+82.6%+23.0%+42.0%−11.1%−9.4%+3.2%+60.4%−2.2%+11.6%+40.2%+1.7%+8.7%+20.6%−6.1%+9.9%+46.9%+13.2%−31.9%+72.5%+40.3%+21.8%+28.1%+33.8%−23.9%+31.9%+68.9%+28.5%−29.3%+0.3%
TDG TransDigm Group Incorporated13 of 19+12.2%+32.3%+66.6%+1.8%+2.8%+10.5%+84.4%+23.8%+19.8%+19.1%+16.4%+39.9%+36.8%+56.1%+32.9%+51.6%+67.3%−25.7%+70.4%——————————
NOC Northrop Grumman Corporation17 of 29+23.6%+1.9%−12.8%+43.0%+29.3%−9.9%+42.7%−18.9%+33.9%+25.2%+30.5%+31.4%+74.4%+19.6%+2.9%+19.7%+28.5%−41.2%+18.4%+14.6%+12.6%+15.7%+0.3%−2.4%+23.7%+57.3%−24.2%−35.3%+41.5%
CW Curtiss-Wright Corporation16 of 29+55.7%+59.7%+34.0%+21.0%+19.9%−16.8%+38.7%−15.8%+24.5%+44.4%−2.2%+14.3%+91.4%−6.0%+7.5%+7.1%−5.2%−32.9%+36.2%+36.9%−4.3%+28.4%+42.3%+34.9%+3.9%+27.8%−1.8%+6.3%+46.4%
HXL Hexcel Corporation15 of 29+19.2%−14.2%+26.2%+14.4%+6.8%−33.7%+28.9%−6.5%+21.1%+11.9%+12.9%−7.1%+65.8%+11.3%+33.9%+39.4%+75.5%−69.5%+39.5%−3.6%+24.5%+95.6%+147%−2.5%−65.5%+60.7%−33.6%−66.4%+53.5%
DAL Delta Air Lines, Inc.7 of 18+16.1%+52.0%+23.0%−15.9%−2.8%−30.8%+20.4%−8.7%+16.2%−1.4%+4.1%+80.5%+133%+46.7%−35.8%+10.7%−0.7%−23.0%———————————
LUV Southwest Airlines Co.11 of 29+25.7%+19.1%−11.8%−21.4%−8.1%−13.3%+17.7%−28.2%+32.4%+16.8%+2.4%+126%+85.5%+20.0%−34.0%+13.9%+33.1%−29.3%−20.2%−6.6%+1.1%+0.9%+16.2%−24.7%−17.3%+108%+6.9%+38.4%+68.1%
BA The Boeing Company14 of 29+22.7%−32.1%+36.8%−5.4%−5.9%−33.9%+3.3%+11.5%+94.7%+11.3%+14.1%−2.5%+84.7%+5.2%+15.2%+23.6%+31.8%−50.1%−0.1%+28.4%+37.9%+24.9%+30.4%−13.4%−40.4%+61.2%+28.7%−32.5%−7.1%
GEV GE Vernova Inc.1 of 1+99.0%————————————————————————————
TXT Textron Inc.18 of 29+14.1%−4.8%+13.7%−8.2%+59.9%+8.6%−2.9%−18.6%+16.7%+15.8%0.0%+14.7%+48.7%+34.5%−21.5%+26.1%+36.7%−80.0%+54.4%+24.0%+6.3%+32.2%+37.1%+6.9%−8.5%−37.8%+2.6%+24.3%+34.8%
WOOD iShares Global Timber & Forestry ETF8 of 17−3.3%−4.2%+13.8%−19.4%+17.1%+20.4%+19.7%−17.7%+34.5%+14.3%−8.0%+1.9%+19.0%+23.6%−15.3%+16.2%+36.7%————————————
UAL United Airlines Holdings, Inc.9 of 19+15.2%+135%+9.4%−13.9%+1.2%−50.9%+5.2%+24.2%−7.5%+27.2%−14.3%+76.8%+61.8%+23.9%−20.8%+84.5%+17.2%−64.3%−18.9%——————————
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Risk and diversification

How GE has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were GE's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents GE's five deepest drawdowns since it began trading in 1986, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Green means GE fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringGE fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Dot-com bust−85.5%−47.5%Aug 2000Mar 20098.6 yearsApr 202415.1 years
No named crash−41.2%—Aug 1987May 19889 monthsJan 199020 months
No named crash−32.1%—Jul 1990Oct 19903 monthsApr 19916 months
No named crash−25.7%−18.2%Jul 1998Oct 19983 monthsDec 19982 months
No named crash−21.5%−7.5%Dec 1999Feb 20002 monthsMar 20001 month

How did GE do in stock market crashes?

This section measures how far GE, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than GE.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
GE This pageGE Aerospace—−2.8%−40.7%−51.5%−50.7%−7.6%−12.3%−22.1%−2.5%−82.7%−61.9%
SPY S&P 500State Street SPDR S&P 500 ETF8 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
ATI ATI Inc.4 of 10−8.7%−30.9%−74.4%−28.7%−4.5%−65.6%−48.4%0.0%−86.7%−73.7%
HWM Howmet Aerospace Inc.4 of 10−8.5%−20.2%−64.8%−30.8%−16.0%−38.4%−43.5%0.0%−87.3%−58.3%
CRS Carpenter Technology Corporation3 of 10−8.7%−41.9%−66.2%−43.6%−3.8%−36.5%−28.1%0.0%−84.7%−70.2%
MOG-A Moog Inc.4 of 10−6.4%−21.3%−61.7%−20.0%−9.2%−42.3%−29.1%−4.3%−62.9%−38.2%
GD General Dynamics Corporation6 of 10−3.6%−15.3%−43.2%−28.4%−7.1%−18.1%−21.8%−2.2%−61.0%−32.4%
RTX RTX Corporation6 of 10−1.5%−21.9%−50.5%−27.7%−7.1%−15.4%−23.1%−2.5%−52.0%−52.1%
AER AerCap Holdings N.V.2 of 9−8.3%−44.6%−75.9%−36.0%−4.0%−47.3%−30.0%−3.3%−93.6%—
LMT Lockheed Martin Corporation10 of 10−0.8%−16.9%−35.9%−29.4%−5.2%−8.5%−17.3%−1.9%−50.5%−24.5%
HON Honeywell International Inc.7 of 10−1.4%−22.7%−42.2%−22.1%−6.8%−14.4%−25.3%−1.8%−62.2%−65.8%
HEI HEICO Corporation4 of 10−3.7%−18.8%−52.4%−22.6%−7.3%−14.6%−27.3%−3.0%−61.4%−53.9%
WWD Woodward, Inc.3 of 10−5.3%−37.3%−58.5%−18.2%−13.6%−18.7%−30.3%−4.3%−83.2%−48.6%
TDG TransDigm Group Incorporated4 of 9−8.1%−24.9%−61.7%−16.3%−8.1%−23.4%−20.6%−3.2%−51.7%—
NOC Northrop Grumman Corporation8 of 10−1.6%−11.2%−26.1%−29.0%−4.3%−9.1%−24.7%−2.7%−58.7%−27.6%
CW Curtiss-Wright Corporation7 of 10−4.4%−20.5%−47.8%−29.6%−9.6%−12.9%−19.3%−1.7%−59.2%−33.7%
HXL Hexcel Corporation3 of 10−6.2%−19.6%−61.3%−21.0%−6.0%−29.2%−25.1%−3.5%−82.8%−86.7%
DAL Delta Air Lines, Inc.5 of 9−10.2%−37.4%−63.5%−21.0%−7.6%−22.0%−21.3%−0.2%−81.1%—
LUV Southwest Airlines Co.7 of 10−8.4%−36.3%−45.8%−30.2%−5.5%−29.9%−29.5%−1.5%−69.5%−50.1%
BA The Boeing Company6 of 10−2.9%−48.7%−71.9%−24.7%−5.7%−26.8%−20.5%−1.8%−70.0%−57.1%
TXT Textron Inc.4 of 10−8.1%−25.9%−54.5%−38.9%−6.0%−29.0%−39.9%−9.4%−94.7%−49.9%
WOOD iShares Global Timber & Forestry ETF4 of 8−3.7%−30.7%−38.7%−27.2%−6.3%−24.1%−22.9%−4.1%——
UAL United Airlines Holdings, Inc.5 of 9−10.0%−38.5%−73.4%−18.2%−4.1%−26.7%−20.2%−0.4%−93.0%—
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How closely does GE move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares GE with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than GE's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
GE This pageGE Aerospace85%106%0.801.21
NOC Northrop Grumman Corporation49%32%1.550.35
HEI HEICO Corporation118%85%1.391.15
CW Curtiss-Wright Corporation103%77%1.331.20
HWM Howmet Aerospace Inc.142%115%1.231.41
ATI ATI Inc.141%116%1.221.37
LMT Lockheed Martin Corporation58%48%1.220.52
MOG-A Moog Inc.119%101%1.181.20
TDG TransDigm Group Incorporated112%97%1.151.25
CRS Carpenter Technology Corporation155%137%1.131.68
WWD Woodward, Inc.111%100%1.111.27
RTX RTX Corporation94%91%1.020.89
GD General Dynamics Corporation68%68%1.000.71
AER AerCap Holdings N.V.132%164%0.801.63
HON Honeywell International Inc.90%118%0.771.00
DAL Delta Air Lines, Inc.107%149%0.721.34
HXL Hexcel Corporation94%135%0.691.27
UAL United Airlines Holdings, Inc.107%158%0.681.41
TXT Textron Inc.103%155%0.661.33
WOOD iShares Global Timber & Forestry ETF78%122%0.640.95
BA The Boeing Company93%152%0.611.42
LUV Southwest Airlines Co.81%145%0.561.18
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What diversifies GE?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with GE's. Because such investments tend not to fall at the same time, pairing GE with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which GE lost money. The last two columns show a portfolio that is 80% GE and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe2022202020182017201420092008200520022001200080/20 mix volatility80/20 mix annual return
GE GE Aerospace (this page)1.00+366%1.15−10.9%−2.7%−55.4%−42.9%−6.7%−1.9%−53.9%−1.4%−37.7%−15.1%−6.0%33.9%+37.9%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.49+225%1.34+6.0%+3.9%−19.8%+22.8%+8.1%+2.0%−20.8%————28.5%+36.5%
GCOW InternationalPacer Global Cash Cows Dividend ETF0.47+93.4%1.04+5.5%−4.3%−8.0%+20.7%———————28.6%+33.5%
MLPX EnergyGlobal X - MLP & Energy Infrastructure ETF0.47+135%0.97+21.5%−20.3%−15.5%−4.5%+16.2%——————29.1%+35.1%
GLD CommoditiesSPDR Gold Shares0.19+126%0.96−0.8%+24.8%−1.9%+12.8%−2.2%+24.0%+4.9%+17.8%———28.0%+35.0%
XLE EnergyState Street Energy Select Sector SPDR ETF0.28+177%0.93+64.4%−32.7%−18.2%−0.9%−8.7%+21.8%−39.0%+40.1%−14.8%−18.2%+24.4%29.0%+36.1%
EWT TechnologyiShares MSCI Taiwan ETF0.43+153%0.89−28.9%+31.5%−9.9%+26.9%+7.0%+73.7%−45.3%+4.7%−24.4%+2.1%—29.7%+35.5%
AMLP EnergyAlerian MLP ETF0.48+111%0.89+25.5%−32.3%−12.6%−7.9%+4.8%——————29.1%+34.6%
PTLC Broad MarketPacer Trendpilot US Large Cap ETF0.32+57.4%0.83−8.6%−1.2%+1.5%+21.4%———————27.9%+33.0%

Stocks

InvestmentCorrelation5Y returnSharpe2022202020182017201420092008200520022001200080/20 mix volatility80/20 mix annual return
GE GE Aerospace (this page)1.00+366%1.15−10.9%−2.7%−55.4%−42.9%−6.7%−1.9%−53.9%−1.4%−37.7%−15.1%−6.0%33.9%+37.9%
CAH Medical - DistributionCardinal Health, Inc.0.36+479%1.55+54.1%+10.1%−24.5%−12.7%+23.0%−4.4%−39.6%+18.7%−8.3%−2.5%+108%29.4%+39.1%
CLS Hardware, Equipment & PartsCelestica Inc.0.34+3,143%1.47+1.3%−2.4%−16.3%−11.6%+12.9%+105%−20.5%−25.2%−65.1%−25.6%−2.3%33.0%+53.4%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.48+1,636%1.46+17.0%+6.7%+0.8%+32.1%−10.4%+17.8%−15.2%+20.1%−9.4%+73.7%−71.1%32.4%+48.6%
MCK Medical - DistributionMcKesson Corporation0.19+413%1.44+51.8%+27.1%−28.4%+12.0%+29.3%+62.9%−40.4%+64.9%−27.2%+4.9%+61.2%28.5%+38.7%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.23+690%1.41+86.6%−27.4%−8.2%+34.8%+0.4%——————29.3%+41.7%
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Common questions

What was GE's worst drawdown?

GE's deepest decline since it began trading in 1986 was 85.5%, from August 2000 to March 2009. It took about 15 years from the low to climb back to its old high.

What were GE's best and worst years?

Over 29 full calendar years, GE's best year was 2023, when it returned 95.8%. Its worst was 2018, with a return of -55.4%.

Is there a better investment than GE?

Among GE's popular alternatives, HWM earned more for the risk it took than GE over the past 5 years, and its worst fall in 10 years was 68.9%, against 80.9% for GE. Looking beyond its popular alternatives, AEM (gold mining) and ESLT (aerospace & defense) were ahead of GE in most short and long periods.

Is GE more volatile than the S&P 500?

Yes. GE's volatility over the past 5 years was 31.0%, 1.8 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, GE's return lands within 31.0% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is GE's Sharpe ratio?

GE's Sharpe ratio over the past 5 years was 1.15, against 0.79 for the S&P 500, so GE earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is GE with the S&P 500?

Over the past 5 years, GE's monthly returns had a correlation of 0.64 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against GE instead: the lower it is, the more that option would diversify a GE holding.

What are the best alternatives to GE?

Of the 22 popular alternatives we compared, one outperformed GE in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: ATI.

Did GE outperform the S&P 500?

GE finished ahead of the S&P 500 (SPY) in 15 of 29 full calendar years. In 2025, it returned +85.7%, against +17.7% for the index.

How did GE do in stock market crashes?

GE fell less than the S&P 500 (SPY) in two of the ten major crashes it has traded through, and further in eight. The clearest case was the late-2018 sell-off, when GE fell 50.7% and the S&P 500 fell 19.3%.

What diversifies GE?

These had a low correlation with GE over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.49), GCOW (correlation 0.47) and MLPX (correlation 0.47); among large stocks, CAH (correlation 0.36), CLS (correlation 0.34) and FIX (correlation 0.48). A correlation near zero means the two have moved largely independently.

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