LHX vs TOP: Correlation
How closely do L3Harris (LHX) and TOP Financial Group Limited - Class A (TOP) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LHX and TOP?
Over the past 3 years, LHX and TOP moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.33) runs below the 3-year figure (-0.18). Over 5 years the correlation is -0.10, and the annualized covariance of weekly returns is -944.2 %².
Within LHX's tracked universe of 30 assets, TOP comes in at #21 by 3-year correlation. The last year tells two different stories: TOP led by 1221.7 percentage points, -3.8% for LHX against +1217.9% for TOP. Note the risk asymmetry: TOP runs 10.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TOP: side by side
| LHX (L3Harris) | TOP (TOP Financial Group Limited - Class A) | |
|---|---|---|
| 1-year return | -3.8% | +1217.9% |
| 5-year return | +24.4% | -9.2% |
| Volatility (ann.) | 23.0% | 230.2% |
| Beta vs S&P 500 | 0.51 | 1.60 |
| Max drawdown (3Y) | -30.3% | -89.6% |
| Market cap | $48.8B | $1.9B |
| P/E (trailing) | 26.6 | – |
| Dividend yield | 1.09% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | LHX | TOP |
|---|---|---|
| 2022 | -0.5% | – |
| 2023 | +3.7% | -22.5% |
| 2024 | +1.9% | -59.5% |
| 2025 | +42.3% | -34.3% |
| 2026 | -10.1% | +1434.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LHX and TOP good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LHX and TOP?
The LHX/TOP correlation stands at -0.18 on a 3-year window (1 year: -0.33, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is TOP a good diversifier for LHX?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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-top.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lhx-vs-top/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LHX correlations · TOP correlations
