LHX vs WM: Correlation
Measured on weekly returns over the past three years, L3Harris (LHX) and Waste Management (WM) carry a correlation of 0.29, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LHX and WM?
On 3 years of weekly data the LHX/WM correlation comes out at 0.29, weak. The relationship has been stable: the 1-year correlation (0.25) sits close to the 3-year figure. The 5-year figure is 0.40, and annualized covariance runs at 122.1 %².
Within LHX's tracked universe of 30 assets, WM comes in at #19 by 3-year correlation. Twelve-month performance is nearly a tie, at -3.8% for LHX and -2.0% for WM. Across three years, the rolling one-year figure varied moderately, from 0.09 to 0.53.
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 WM: side by side
| LHX (L3Harris) | WM (Waste Management) | |
|---|---|---|
| 1-year return | -3.8% | -2.0% |
| 5-year return | +24.4% | +51.8% |
| Volatility (ann.) | 23.0% | 18.3% |
| Beta vs S&P 500 | 0.51 | 0.07 |
| Max drawdown (3Y) | -30.3% | -18.1% |
| Market cap | $48.8B | $87.0B |
| P/E (trailing) | 26.6 | 30.8 |
| Dividend yield | 1.09% | 1.60% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | LHX | WM |
|---|---|---|
| 2022 | -0.5% | -4.5% |
| 2023 | +3.7% | +16.2% |
| 2024 | +1.9% | +14.3% |
| 2025 | +42.3% | +10.5% |
| 2026 | -10.1% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LHX and WM good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LHX and WM?
As of 2026-08-27, the correlation of weekly returns between LHX and WM is 0.29 over 3 years, 0.25 over 1 year and 0.40 over 5 years.
Is WM a good diversifier for LHX?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 mean?
On the −1 to +1 scale, 0.29 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-wm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lhx-vs-wm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LHX correlations · WM correlations
