LKQ vs OTIS: Correlation
How closely do LKQ Corporation (LKQ) and Otis Worldwide (OTIS) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LKQ and OTIS?
On 3 years of weekly data the LKQ/OTIS correlation comes out at 0.56, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.56 over 3. The 5-year figure is 0.59, and annualized covariance runs at 336.9 %².
Few assets follow LKQ as closely as OTIS, which ranks #1 of 11 tracked partners. Neither side won the trailing year by much: -17.5% against -16.8%. One caveat on sizing: LKQ is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
LKQ vs OTIS: side by side
| LKQ (LKQ Corporation) | OTIS (Otis Worldwide) | |
|---|---|---|
| 1-year return | -17.5% | -16.8% |
| 5-year return | -43.9% | -15.9% |
| Volatility (ann.) | 31.2% | 19.1% |
| Beta vs S&P 500 | 0.57 | 0.59 |
| Max drawdown (3Y) | -54.6% | -32.4% |
| Market cap | $6.4B | $27.2B |
| P/E (trailing) | 14.1 | 18.4 |
| Dividend yield | 4.66% | 2.35% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | LKQ | OTIS |
|---|---|---|
| 2022 | -9.2% | -8.8% |
| 2023 | -8.6% | +16.0% |
| 2024 | -20.9% | +5.2% |
| 2025 | -15.0% | -4.0% |
| 2026 | -13.2% | -16.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LKQ and OTIS good diversifiers for each other?
Only partially. A correlation of 0.56 means LKQ and OTIS 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 LKQ and OTIS?
As of 2026-08-27, the correlation of weekly returns between LKQ and OTIS is 0.56 over 3 years, 0.48 over 1 year and 0.59 over 5 years.
Is OTIS a good diversifier for LKQ?
Only partially. A correlation of 0.56 means LKQ and OTIS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
A reading of 0.56 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: LKQ correlations · OTIS correlations
