ETN vs LWLG: Correlation
How closely do Eaton Corporation (ETN) and Lightwave Logic, Inc. (LWLG) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETN and LWLG?
Over the past 3 years, ETN and LWLG moved with a correlation of 0.40, which is moderate. The relationship has been stable: the 1-year correlation (0.44) sits close to the 3-year figure. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 1346.5 %².
Among the 44 assets we track against ETN, LWLG ranks #33 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months LWLG outperformed by 43.4 percentage points (+19.7% for ETN against +63.1% for LWLG). Risk is not evenly split, since LWLG carries 3.7 times the volatility of the other side.
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.
ETN vs LWLG: side by side
| ETN (Eaton Corporation) | LWLG (Lightwave Logic, Inc.) | |
|---|---|---|
| 1-year return | +19.7% | +63.1% |
| 5-year return | +164.1% | -48.5% |
| Volatility (ann.) | 30.2% | 110.8% |
| Beta vs S&P 500 | 1.33 | 2.43 |
| Max drawdown (3Y) | -34.5% | -87.7% |
| Market cap | $161.6B | $0.9B |
| P/E (trailing) | 42.4 | – |
| Dividend yield | 1.02% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ETN | LWLG |
|---|---|---|
| 2022 | -7.2% | -71.0% |
| 2023 | +56.2% | +15.5% |
| 2024 | +39.5% | -57.8% |
| 2025 | -2.8% | +54.3% |
| 2026 | +31.7% | +81.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETN and LWLG good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ETN and LWLG?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.44 over the last year and 0.38 over 5 years.
Is LWLG a good diversifier for ETN?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ETN correlations · LWLG correlations
