LII vs TEX: Correlation
Measured on weekly returns over the past three years, Lennox International (LII) and Terex Corporation (TEX) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LII and TEX?
On 3 years of weekly data the LII/TEX correlation comes out at 0.54, moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. The 5-year figure is 0.52, and annualized covariance runs at 707.0 %².
Among the 37 assets we track against LII, TEX ranks #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TEX ahead by 54.5 points (-30.3% versus +24.2%).
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 TEX: side by side
| LII (Lennox International) | TEX (Terex Corporation) | |
|---|---|---|
| 1-year return | -30.3% | +24.2% |
| 5-year return | +23.7% | +31.7% |
| Volatility (ann.) | 32.0% | 41.0% |
| Beta vs S&P 500 | 0.96 | 1.38 |
| Max drawdown (3Y) | -41.7% | -51.3% |
| Market cap | $13.5B | $7.4B |
| P/E (trailing) | 17.5 | 31.2 |
| Dividend yield | 1.34% | 1.04% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | LII | TEX |
|---|---|---|
| 2022 | -24.9% | -1.4% |
| 2023 | +89.5% | +36.1% |
| 2024 | +37.3% | -18.6% |
| 2025 | -19.5% | +17.3% |
| 2026 | -19.0% | +21.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LII and TEX good diversifiers for each other?
To a limited degree. At 0.54 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 TEX?
The LII/TEX correlation stands at 0.54 on a 3-year window (1 year: 0.61, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is TEX a good diversifier for LII?
To a limited degree. At 0.54 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 0.54 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-tex.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lii-vs-tex/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LII correlations · TEX correlations
