FRNM vs LHX: Correlation
Freenome, Inc. (FRNM) and L3Harris (LHX) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRNM and LHX?
Over the past 3 years, FRNM and LHX moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.25 over 1 year against -0.19 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -95.7 %².
Within FRNM's tracked universe of 34 assets, LHX comes in at #13 by 3-year correlation. The last year tells two different stories: FRNM led by 36.1 percentage points, +32.3% for FRNM against -3.8% for LHX.
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.
FRNM vs LHX: side by side
| FRNM (Freenome, Inc.) | LHX (L3Harris) | |
|---|---|---|
| 1-year return | +32.3% | -3.8% |
| 5-year return | n/a | +24.4% |
| Volatility (ann.) | 21.1% | 23.0% |
| Beta vs S&P 500 | 0.03 | 0.51 |
| Max drawdown (3Y) | -29.6% | -30.3% |
| Market cap | $1.5B | $48.8B |
| P/E (trailing) | – | 26.6 |
| Dividend yield | 0.00% | 1.09% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | FRNM | LHX |
|---|---|---|
| 2022 | – | -0.5% |
| 2023 | – | +3.7% |
| 2024 | – | +1.9% |
| 2025 | +28.0% | +42.3% |
| 2026 | +7.0% | -10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRNM and LHX good diversifiers for each other?
Yes. With a correlation of -0.19, FRNM and LHX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FRNM and LHX?
As of 2026-08-27, the correlation of weekly returns between FRNM and LHX is -0.19 over 3 years, -0.25 over 1 year and n/a over 5 years.
Is LHX a good diversifier for FRNM?
Yes. With a correlation of -0.19, FRNM and LHX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
A reading of -0.19 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/frnm-vs-lhx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/frnm-vs-lhx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FRNM correlations · LHX correlations
