LHX vs LMT: Correlation
L3Harris (LHX) and Lockheed Martin (LMT) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LHX and LMT?
On 3 years of weekly data the LHX/LMT correlation comes out at 0.58, moderate. The link has tightened recently: the 1-year correlation (0.69) runs above the 3-year figure (0.58). The 5-year figure is 0.67, and annualized covariance runs at 346.4 %².
Among the 30 assets we track against LHX, LMT ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with LMT ahead by 31.7 points (-3.8% versus +27.9%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.01 and 0.74 over the past three years, so this pair behaves very differently depending on the market environment.
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.
LHX vs LMT: side by side
| LHX (L3Harris) | LMT (Lockheed Martin) | |
|---|---|---|
| 1-year return | -3.8% | +27.9% |
| 5-year return | +24.4% | +78.9% |
| Volatility (ann.) | 23.0% | 26.0% |
| Beta vs S&P 500 | 0.51 | 0.20 |
| Max drawdown (3Y) | -30.3% | -31.8% |
| Market cap | $48.8B | $130.6B |
| P/E (trailing) | 26.6 | 20.9 |
| Dividend yield | 1.09% | 2.41% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | LHX | LMT |
|---|---|---|
| 2022 | -0.5% | +40.5% |
| 2023 | +3.7% | -4.3% |
| 2024 | +1.9% | +10.0% |
| 2025 | +42.3% | +2.5% |
| 2026 | -10.1% | +18.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LHX and LMT good diversifiers for each other?
Only partially. A correlation of 0.58 means LHX and LMT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between LHX and LMT?
As of 2026-08-27, the correlation of weekly returns between LHX and LMT is 0.58 over 3 years, 0.69 over 1 year and 0.67 over 5 years.
Is LMT a good diversifier for LHX?
Only partially. A correlation of 0.58 means LHX and LMT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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/lhx-vs-lmt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lhx-vs-lmt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LHX correlations · LMT correlations
