LII vs MLM: Correlation
Lennox International (LII) and Martin Marietta Materials (MLM) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LII and MLM?
Across a 3-year window, the weekly returns of LII and MLM correlate at 0.52, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.68 versus 0.52 over 3 years. Stretching to 5 years gives 0.56, with an annualized covariance of 401.9 %².
Within LII's tracked universe of 37 assets, MLM comes in at #15 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MLM outperformed by 16.5 percentage points (-30.3% for LII against -13.8% for MLM). The rolling one-year correlation moved between 0.38 and 0.68 over the past three years, a moderate range.
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.
LII vs MLM: side by side
| LII (Lennox International) | MLM (Martin Marietta Materials) | |
|---|---|---|
| 1-year return | -30.3% | -13.8% |
| 5-year return | +23.7% | +42.4% |
| Volatility (ann.) | 32.0% | 23.9% |
| Beta vs S&P 500 | 0.96 | 0.85 |
| Max drawdown (3Y) | -41.7% | -26.8% |
| Market cap | $13.5B | $37.5B |
| P/E (trailing) | 17.5 | 34.4 |
| Dividend yield | 1.34% | 0.62% |
| Sector / category | Industrials | Materials |
Year-by-year returns
| Year | LII | MLM |
|---|---|---|
| 2022 | -24.9% | -22.7% |
| 2023 | +89.5% | +48.6% |
| 2024 | +37.3% | +4.1% |
| 2025 | -19.5% | +21.3% |
| 2026 | -19.0% | -14.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LII and MLM good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between LII and MLM?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.68 over the last year and 0.56 over 5 years.
Is MLM a good diversifier for LII?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 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/lii-vs-mlm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lii-vs-mlm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LII correlations · MLM correlations
