EME vs LMB: Correlation
Measured on weekly returns over the past three years, Emcor (EME) and Limbach Holdings, Inc. (LMB) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EME and LMB?
Across a 3-year window, the weekly returns of EME and LMB correlate at 0.50, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.27 versus 0.50 over 3 years. Stretching to 5 years gives 0.40, with an annualized covariance of 1066.5 %².
By 3-year correlation, LMB places #21 of the 34 assets tracked against EME. Correlation aside, the last 12 months split them widely, with EME ahead by 91.4 points (+24.5% versus -66.9%). One caveat on sizing: LMB is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
EME vs LMB: side by side
| EME (Emcor) | LMB (Limbach Holdings, Inc.) | |
|---|---|---|
| 1-year return | +24.5% | -66.9% |
| 5-year return | +540.3% | +417.7% |
| Volatility (ann.) | 34.9% | 60.8% |
| Beta vs S&P 500 | 1.31 | 1.22 |
| Max drawdown (3Y) | -36.2% | -72.1% |
| Market cap | $34.2B | $0.5B |
| P/E (trailing) | 23.8 | 16.6 |
| Dividend yield | 0.09% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | EME | LMB |
|---|---|---|
| 2022 | +16.8% | +15.7% |
| 2023 | +46.0% | +336.8% |
| 2024 | +111.3% | +88.1% |
| 2025 | +35.1% | -9.0% |
| 2026 | +26.9% | -46.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EME and LMB good diversifiers for each other?
Only partially. A correlation of 0.50 means EME and LMB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EME and LMB?
As of 2026-08-27, the correlation of weekly returns between EME and LMB is 0.50 over 3 years, 0.27 over 1 year and 0.40 over 5 years.
Is LMB a good diversifier for EME?
Only partially. A correlation of 0.50 means EME and LMB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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/eme-vs-lmb.json
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Related comparisons
Hubs: EME correlations · LMB correlations
