GRMN vs LMAT: Correlation
How closely do Garmin (GRMN) and LeMaitre Vascular, Inc. (LMAT) 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 GRMN and LMAT?
On 3 years of weekly data the GRMN/LMAT correlation comes out at 0.40, moderate. The past 12 months show a weaker link (0.29) than the 3-year average (0.40). The 5-year figure is 0.37, and annualized covariance runs at 491.7 %².
Within GRMN's tracked universe of 36 assets, LMAT comes in at #23 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GRMN ahead by 41.0 points (+25.1% versus -15.9%).
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.
GRMN vs LMAT: side by side
| GRMN (Garmin) | LMAT (LeMaitre Vascular, Inc.) | |
|---|---|---|
| 1-year return | +25.1% | -15.9% |
| 5-year return | +80.9% | +47.2% |
| Volatility (ann.) | 34.7% | 35.0% |
| Beta vs S&P 500 | 1.06 | 0.57 |
| Max drawdown (3Y) | -28.0% | -32.5% |
| Market cap | $55.9B | $1.8B |
| P/E (trailing) | 29.9 | 27.9 |
| Dividend yield | 1.45% | 1.13% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | GRMN | LMAT |
|---|---|---|
| 2022 | -30.2% | -7.4% |
| 2023 | +43.1% | +24.6% |
| 2024 | +63.3% | +63.6% |
| 2025 | -0.1% | -11.2% |
| 2026 | +44.1% | -1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRMN and LMAT good diversifiers for each other?
Reasonably. At 0.40, GRMN and LMAT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GRMN and LMAT?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.29 over the last year and 0.37 over 5 years.
Is LMAT a good diversifier for GRMN?
Reasonably. At 0.40, GRMN and LMAT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
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: GRMN correlations · LMAT correlations
