Honeywell Technologies (HON): economic exposure
Over the 156 weeks to Oct 2, 2026, HON shows no clear sensitivity to any of the economic forces measured, beyond its movement with the stock market. No measurable link to interest rates, inflation expectations, U.S. dollar, oil and energy and credit spreads. It has typically moved 0.77 times as much as the U.S. stock market, which is accounted for separately.
Exposure to each economic force
| Economic force | Typical weekly move | 90% range | Evidence |
|---|---|---|---|
| Oil and energyIn weeks when the price of oil rose 10% | −0.65%Industrials median −0.21% | −1.4% to +0.05% | Not distinguishable from zero |
| U.S. dollarIn weeks when the trade-weighted U.S. dollar rose 2% | +0.47%Industrials median −0.22% | −0.72% to +1.7% | Not distinguishable from zero |
| Inflation expectationsIn weeks when 10-year inflation expectations rose 0.25 percentage points | −0.32%Industrials median +1.4% | −2.9% to +2.3% | Not distinguishable from zero |
| Credit spreadsIn weeks when corporate credit spreads widened 0.25 percentage points | +0.21%Industrials median −0.58% | −1.9% to +2.3% | Not distinguishable from zero |
| Interest ratesIn weeks when the 10-year Treasury yield rose 0.25 percentage points | −0.12%Industrials median −0.54% | −1.0% to +0.79% | Not distinguishable from zero |
What if?
Only the forces whose reading held up are offered. The figure scales in a straight line with the move and describes the past; it is not a forecast. See every stock on record for a move like this.
More forces, beyond the core five
| Force | Typical weekly move | 90% range | Evidence |
|---|---|---|---|
| Short-term ratesIn weeks when the 2-year Treasury yield rose 0.25 percentage points | −1.8%Industrials median +0.06% | −3.5% to −0.14% | Tentative |
| Market volatilityIn weeks when market volatility (the VIX) rose 5 points | −0.67%Industrials median −0.09% | −1.6% to +0.25% | Not distinguishable from zero |
| Mortgage ratesIn weeks when the 30-year mortgage rate rose 0.25 percentage points | +1.0%Industrials median −0.20% | +0.11% to +2.0% | Tentative |
| GoldIn weeks when the price of gold rose 5% | +0.13%Industrials median −0.05% | −0.61% to +0.88% | Not distinguishable from zero |
| CopperIn weeks when the price of copper rose 5% | +0.04%Industrials median −0.14% | −0.52% to +0.59% | Not distinguishable from zero |
| Natural gasIn weeks when the U.S. natural gas price (Henry Hub) rose 10% | 0.00%Industrials median −0.01% | −0.02% to +0.03% | Not distinguishable from zero |
| BitcoinIn weeks when the price of bitcoin rose 10% | −0.04%Industrials median −0.16% | −0.77% to +0.69% | Not distinguishable from zero |
| Small vs large companiesIn weeks when small companies beat large ones by 1 percentage point | +0.42%Industrials median +0.43% | +0.13% to +0.71% | Tentative |
| Value vs growthIn weeks when value stocks beat growth stocks by 1 percentage point | +0.57%Industrials median +0.53% | +0.35% to +0.78% | Clear |
| MomentumIn weeks when recent winners beat the stock market by 1 percentage point | −0.11%Industrials median −0.08% | −0.56% to +0.33% | Not distinguishable from zero |
| EuroIn weeks when the euro rose 2% against the U.S. dollar | −0.77%Industrials median −0.63% | −2.9% to +1.3% | Not distinguishable from zero |
| Japanese yenIn weeks when the yen rose 2% against the U.S. dollar | −0.37%Industrials median −0.10% | −1.0% to +0.29% | Not distinguishable from zero |
| Emerging marketsIn weeks when emerging-market stocks beat the S&P 500 by 1 percentage point | +0.28%Industrials median −0.01% | +0.04% to +0.52% | Tentative |
| ChinaIn weeks when Chinese stocks beat other emerging markets by 1 percentage point | −0.09%Industrials median 0.00% | −0.25% to +0.08% | Not distinguishable from zero |
Stocks with the most similar profile
Closest across the five core forces, each scaled by how much stocks on record differ on it. Alike in how they moved over three years, not in business, size or value.
This describes the past, and it is not a forecast. It shows how the stock has moved alongside five economic forces. Relationships change, and nothing here is a recommendation to buy, sell or hold any security.
Method: weekly returns over three years, regressed on weekly changes in the 10-year Treasury yield, 10-year inflation expectations, the trade-weighted dollar, oil and corporate credit spreads, controlling for the S&P 500. Newey-West standard errors; the 90% range and evidence label show how precisely each figure is measured. Prices from Yahoo Finance; economic series from FRED. Full methodology.