Tax-loss harvesting alternatives for ATI

Among the 25 Aerospace & Defense peers screened, HWM (Howmet Aerospace) has tracked ATI most closely over the past year, with a return correlation of 0.61. The strongest fund stand-in is PAVE (Global X US Infrastructure) at 0.67 over the past year. Correlations are computed from daily closing-price returns aligned by trading day.

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STOCKS

Single-name peers

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
HWM	Howmet Aerospace	Aerospace & Defense	0.61	0.59	0.59	0.58
CW	Curtiss-Wright	Aerospace & Defense	0.61	0.52	0.51	0.54
VSEC	VSE Corporation	Aerospace & Defense	0.60	0.43	0.41	0.40
AIR	AAR Corp.	Aerospace & Defense	0.55	0.48	0.51	0.54
HXL	Hexcel	Aerospace & Defense	0.54	0.52	0.51	0.55
MOG-A	Moog Inc.	Aerospace & Defense	0.53	0.54	0.50	0.56
BWXT	BWX Technologies	Aerospace & Defense	0.53	0.40	0.39	0.36
SARO	StandardAero	Aerospace & Defense	0.48	0.47	—	—
TXT	Textron	Aerospace & Defense	0.36	0.40	0.44	0.55
KTOS	Kratos Defense & Security Solutions	Aerospace & Defense	0.34	0.34	0.32	0.35
KRMN	Karman Holdings	Aerospace & Defense	0.34	—	—	—
RTX	RTX Corp.	Aerospace & Defense	0.34	0.35	0.37	0.50
BA	Boeing Co.	Aerospace & Defense	0.30	0.38	0.39	0.49
TDG	TransDigm Group	Aerospace & Defense	0.30	0.33	0.39	0.45
HII	Huntington Ingalls Industries	Aerospace & Defense	0.24	0.23	0.28	0.36
LHX	L3Harris Technologies	Aerospace & Defense	0.24	0.24	0.26	0.33
NPK	National Presto Industries, Inc.	Aerospace & Defense	0.22	0.25	0.29	0.30
VVX	V2X, Inc.	Aerospace & Defense	0.20	0.24	0.26	0.32
PSN	Parsons Corporation	Aerospace & Defense	0.19	0.19	0.23	0.33
GD	General Dynamics	Aerospace & Defense	0.17	0.24	0.31	0.44
AVAV	AeroVironment	Aerospace & Defense	0.15	0.22	0.23	0.26
NOC	Northrop Grumman	Aerospace & Defense	0.14	0.12	0.16	0.24
LMT	Lockheed Martin	Aerospace & Defense	0.12	0.10	0.17	0.29
AXON	Axon Enterprise	Aerospace & Defense	0.06	0.19	0.19	0.23
HONA	Honeywell Aerospace	Aerospace & Defense	—	—	—	—

ETFS

Fund stand-ins

An ETF is generally not 'substantially identical' to a single stock, which is why funds are the standard wash-sale-aware replacement.

Ticker	Name	Focus	Match	1Y	3Y	5Y	10Y
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.67	0.61	0.61	0.67
VIS	Vanguard Industrials ETF	Industrials Sector	SECTOR	0.67	0.61	0.59	0.63
FIDU	Fidelity MSCI Industrials ETF	Industrials Sector	SECTOR	0.67	0.60	0.59	0.62
XLI	Industrial Select Sector SPDR	Industrials Sector	SECTOR	0.65	0.59	0.58	0.61
XAR	SPDR S&P Aerospace & Defense	Aerospace & Defense (Equal Wt)	INDUSTRY	0.64	0.61	0.59	0.62
ITA	iShares Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.61	0.59	0.58	0.62
PPA	Invesco Aerospace & Defense ETF	Aerospace & Defense	INDUSTRY	0.59	0.60	0.59	0.61
IYJ	iShares US Industrials ETF	Industrials Sector	SECTOR	0.59	0.56	0.55	0.59
BOTZ	Global X Robotics & AI	Robotics & AI	SECTOR	0.50	0.50	0.46	0.47
JETS	US Global Jets ETF	Airlines	SUB-IND	0.41	0.45	0.46	0.51
XTN	SPDR S&P Transportation ETF	Transportation	INDUSTRY	0.40	0.46	0.47	0.54
IYT	iShares Transportation Average	Transportation	INDUSTRY	0.40	0.44	0.46	0.54

NEXT STEPS

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Replacement research for ATI's peers

HWM CW VSEC AIR HXL MOG-A BWXT SARO TXT KTOS KRMN RTX BA TDG HII LHX NPK VVX PSN GD AVAV NOC LMT AXON HONA

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Method: Pearson correlation of daily closing-price returns, Yahoo Finance data, series aligned by trading day, refreshed weekly. A cell is blank when overlapping history covers less than 60% of its window. Correlation is descriptive, not predictive. Wash-sale treatment depends on facts and circumstances — confirm with a tax professional. Not investment advice.