DRS vs LHX: Correlation
How closely do Leonardo DRS, Inc. (DRS) and L3Harris (LHX) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DRS and LHX?
On 3 years of weekly data the DRS/LHX correlation comes out at 0.58, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.70 versus 0.58 over 3 years. The 5-year figure is 0.45, and annualized covariance runs at 507.3 %².
In DRS's tracked universe of 14 assets, LHX sits right near the top at #2. Their 12-month results are close: -6.6% for DRS against -3.8% for LHX. Note the risk asymmetry: DRS runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 LHX: side by side
| DRS (Leonardo DRS, Inc.) | LHX (L3Harris) | |
|---|---|---|
| 1-year return | -6.6% | -3.8% |
| 5-year return | +245.4% | +24.4% |
| Volatility (ann.) | 38.1% | 23.0% |
| Beta vs S&P 500 | 0.96 | 0.51 |
| Max drawdown (3Y) | -32.5% | -30.3% |
| Market cap | $10.4B | $48.8B |
| P/E (trailing) | 32.4 | 26.6 |
| Dividend yield | 0.93% | 1.09% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | DRS | LHX |
|---|---|---|
| 2022 | +35.7% | -0.5% |
| 2023 | +56.8% | +3.7% |
| 2024 | +61.2% | +1.9% |
| 2025 | +6.6% | +42.3% |
| 2026 | +14.9% | -10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DRS and LHX good diversifiers for each other?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DRS and LHX?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.70 over the last year and 0.45 over 5 years.
Is LHX a good diversifier for DRS?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/drs-vs-lhx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/drs-vs-lhx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DRS correlations · LHX correlations
