LDOS vs NOC: Correlation
Leidos (LDOS) and Northrop Grumman (NOC) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LDOS and NOC?
Across a 3-year window, the weekly returns of LDOS and NOC correlate at 0.38, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.58 versus 0.38 over 3 years. Stretching to 5 years gives 0.46, with an annualized covariance of 316.2 %².
Among the 36 assets we track against LDOS, NOC ranks #24 by 3-year correlation. The last year tells two different stories: NOC led by 17.3 percentage points, -22.9% for LDOS against -5.6% for NOC. This link changes with the market regime, having swung between 0.06 and 0.62 on a rolling one-year basis.
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.
LDOS vs NOC: side by side
| LDOS (Leidos) | NOC (Northrop Grumman) | |
|---|---|---|
| 1-year return | -22.9% | -5.6% |
| 5-year return | +52.1% | +60.1% |
| Volatility (ann.) | 31.4% | 26.7% |
| Beta vs S&P 500 | 0.87 | 0.24 |
| Max drawdown (3Y) | -49.5% | -35.1% |
| Market cap | $17.6B | $77.4B |
| P/E (trailing) | 12.8 | 17.5 |
| Dividend yield | 1.23% | 1.71% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | LDOS | NOC |
|---|---|---|
| 2022 | +20.0% | +43.0% |
| 2023 | +4.5% | -12.8% |
| 2024 | +34.5% | +1.9% |
| 2025 | +26.5% | +23.6% |
| 2026 | -22.0% | -3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LDOS and NOC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LDOS and NOC?
As of 2026-08-27, the correlation of weekly returns between LDOS and NOC is 0.38 over 3 years, 0.58 over 1 year and 0.46 over 5 years.
Is NOC a good diversifier for LDOS?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 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/ldos-vs-noc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ldos-vs-noc/)
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Related comparisons
Hubs: LDOS correlations · NOC correlations
