DRS vs ESLT: Correlation
Leonardo DRS, Inc. (DRS) and Elbit Systems Ltd. (ESLT) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DRS and ESLT?
Across a 3-year window, the weekly returns of DRS and ESLT correlate at 0.48, moderate. The link has tightened recently: the 1-year correlation (0.66) runs above the 3-year figure (0.48). Stretching to 5 years gives 0.36, with an annualized covariance of 663.3 %².
By 3-year correlation, ESLT places #6 of the 14 assets tracked against DRS. Their recent paths diverged sharply: over the last 12 months ESLT outperformed by 55.1 percentage points (-6.6% for DRS against +48.5% for ESLT).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
DRS vs ESLT: side by side
| DRS (Leonardo DRS, Inc.) | ESLT (Elbit Systems Ltd.) | |
|---|---|---|
| 1-year return | -6.6% | +48.5% |
| 5-year return | +245.4% | +410.2% |
| Volatility (ann.) | 38.1% | 36.5% |
| Beta vs S&P 500 | 0.96 | 0.26 |
| Max drawdown (3Y) | -32.5% | -29.3% |
| Market cap | $10.4B | $33.7B |
| P/E (trailing) | 32.4 | 54.4 |
| Dividend yield | 0.93% | 0.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DRS | ESLT |
|---|---|---|
| 2022 | +35.7% | -4.8% |
| 2023 | +56.8% | +31.3% |
| 2024 | +61.2% | +22.2% |
| 2025 | +6.6% | +125.1% |
| 2026 | +14.9% | +24.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DRS and ESLT good diversifiers for each other?
Reasonably. At 0.48, DRS and ESLT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DRS and ESLT?
The DRS/ESLT correlation stands at 0.48 on a 3-year window (1 year: 0.66, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is ESLT a good diversifier for DRS?
Reasonably. At 0.48, DRS and ESLT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/drs-vs-eslt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/drs-vs-eslt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DRS correlations · ESLT correlations
