LH vs PSA: Correlation
How closely do Labcorp (LH) and Public Storage (PSA) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LH and PSA?
On 3 years of weekly data the LH/PSA correlation comes out at 0.48, moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.48 over 3. The 5-year figure is 0.47, and annualized covariance runs at 235.4 %².
Within LH's tracked universe of 34 assets, PSA comes in at #7 by 3-year correlation. On 12-month performance LH holds a 10.5-point edge, +21.8% against +11.3%. Across three years, the rolling one-year figure varied moderately, from 0.35 to 0.66.
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.
LH vs PSA: side by side
| LH (Labcorp) | PSA (Public Storage) | |
|---|---|---|
| 1-year return | +21.8% | +11.3% |
| 5-year return | +36.0% | +20.9% |
| Volatility (ann.) | 21.4% | 23.0% |
| Beta vs S&P 500 | 0.33 | 0.59 |
| Max drawdown (3Y) | -17.4% | -25.6% |
| Market cap | $27.3B | $58.1B |
| P/E (trailing) | 27.8 | 30.3 |
| Dividend yield | 0.86% | 3.78% |
| Sector / category | Health Care | Real Estate |
Year-by-year returns
| Year | LH | PSA |
|---|---|---|
| 2022 | -24.4% | -20.2% |
| 2023 | +13.8% | +13.6% |
| 2024 | +2.2% | +2.1% |
| 2025 | +10.6% | -9.7% |
| 2026 | +34.8% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LH and PSA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LH and PSA?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.46 over the last year and 0.47 over 5 years.
Is PSA a good diversifier for LH?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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/lh-vs-psa.json
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[](https://www.pairbook.io/pair/lh-vs-psa/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LH correlations · PSA correlations
