JHX vs LPX: Correlation
James Hardie Industries plc. (JHX) and Louisiana-Pacific Corporation (LPX) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JHX and LPX?
Across a 3-year window, the weekly returns of JHX and LPX correlate at 0.52, moderate. The link has tightened recently: the 1-year correlation (0.71) runs above the 3-year figure (0.52). Stretching to 5 years gives 0.50, with an annualized covariance of 904.4 %².
Few assets follow JHX as closely as LPX, which ranks #2 of 13 tracked partners. The last year tells two different stories: JHX led by 71.4 percentage points, +46.1% for JHX against -25.3% for LPX.
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.
JHX vs LPX: side by side
| JHX (James Hardie Industries plc.) | LPX (Louisiana-Pacific Corporation) | |
|---|---|---|
| 1-year return | +46.1% | -25.3% |
| 5-year return | -21.2% | +15.9% |
| Volatility (ann.) | 46.3% | 37.4% |
| Beta vs S&P 500 | 1.43 | 1.15 |
| Max drawdown (3Y) | -60.3% | -43.1% |
| Market cap | $17.3B | $4.9B |
| P/E (trailing) | 135.3 | 93.1 |
| Dividend yield | 0.00% | 1.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JHX | LPX |
|---|---|---|
| 2022 | -55.4% | -23.4% |
| 2023 | +115.6% | +21.5% |
| 2024 | -20.3% | +47.9% |
| 2025 | -32.7% | -21.0% |
| 2026 | +43.5% | -11.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JHX and LPX good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between JHX and LPX?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.71 over the last year and 0.50 over 5 years.
Is LPX a good diversifier for JHX?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/jhx-vs-lpx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jhx-vs-lpx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JHX correlations · LPX correlations
