INV vs LMT: Correlation
How closely do Innventure, Inc. (INV) and Lockheed Martin (LMT) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INV and LMT?
Across a 3-year window, the weekly returns of INV and LMT correlate at -0.20, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.39) runs below the 3-year figure (-0.20). Stretching to 5 years gives -0.16, with an annualized covariance of -475.9 %².
By 3-year correlation, LMT places #10 of the 16 assets tracked against INV. Correlation aside, the last 12 months split them widely, with LMT ahead by 97.3 points (-69.4% versus +27.9%). One caveat on sizing: INV is 3.5 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.
INV vs LMT: side by side
| INV (Innventure, Inc.) | LMT (Lockheed Martin) | |
|---|---|---|
| 1-year return | -69.4% | +27.9% |
| 5-year return | -85.4% | +78.9% |
| Volatility (ann.) | 90.9% | 26.0% |
| Beta vs S&P 500 | 1.31 | 0.20 |
| Max drawdown (3Y) | -90.4% | -31.8% |
| Market cap | $0.1B | $130.6B |
| P/E (trailing) | – | 20.9 |
| Dividend yield | 0.00% | 2.41% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | INV | LMT |
|---|---|---|
| 2022 | +1.1% | +40.5% |
| 2023 | +7.3% | -4.3% |
| 2024 | +27.8% | +10.0% |
| 2025 | -69.8% | +2.5% |
| 2026 | -65.1% | +18.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INV and LMT good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between INV and LMT?
As of 2026-08-27, the correlation of weekly returns between INV and LMT is -0.20 over 3 years, -0.39 over 1 year and -0.16 over 5 years.
Is LMT a good diversifier for INV?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/inv-vs-lmt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/inv-vs-lmt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: INV correlations · LMT correlations
