EQS vs LII: Correlation
How closely do Equus Total Return, Inc. (EQS) and Lennox International (LII) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQS and LII?
Over the past 3 years, EQS and LII moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.38) runs below the 3-year figure (-0.24). Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -368.2 %².
Among the 17 assets we track against EQS, LII sits near the bottom by co-movement, at rank #16. Correlation aside, the last 12 months split them widely, with LII ahead by 19.2 points (-49.5% versus -30.3%).
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.
EQS vs LII: side by side
| EQS (Equus Total Return, Inc.) | LII (Lennox International) | |
|---|---|---|
| 1-year return | -49.5% | -30.3% |
| 5-year return | -58.6% | +23.7% |
| Volatility (ann.) | 47.4% | 32.0% |
| Beta vs S&P 500 | -0.16 | 0.96 |
| Max drawdown (3Y) | -58.6% | -41.7% |
| Market cap | – | $13.5B |
| P/E (trailing) | – | 17.5 |
| Dividend yield | 0.00% | 1.34% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | EQS | LII |
|---|---|---|
| 2022 | -39.9% | -24.9% |
| 2023 | +1.4% | +89.5% |
| 2024 | -24.1% | +37.3% |
| 2025 | +28.2% | -19.5% |
| 2026 | -27.0% | -19.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQS and LII good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EQS and LII?
As of 2026-08-27, the correlation of weekly returns between EQS and LII is -0.24 over 3 years, -0.38 over 1 year and -0.11 over 5 years.
Is LII a good diversifier for EQS?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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
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Related comparisons
Hubs: EQS correlations · LII correlations
