LMT vs MXL: Correlation
How closely do Lockheed Martin (LMT) and MaxLinear, Inc (MXL) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LMT and MXL?
Over the past 3 years, LMT and MXL moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.40 versus -0.26 over 3 years. Over 5 years the correlation is -0.19, and the annualized covariance of weekly returns is -702.4 %².
MXL is close to the least connected end of LMT's tracked universe, ranking #29 of 29. Correlation aside, the last 12 months split them widely, with MXL ahead by 251.0 points (+27.9% versus +278.9%). Note the risk asymmetry: MXL runs 4.0 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.
LMT vs MXL: side by side
| LMT (Lockheed Martin) | MXL (MaxLinear, Inc) | |
|---|---|---|
| 1-year return | +27.9% | +278.9% |
| 5-year return | +78.9% | +19.8% |
| Volatility (ann.) | 26.0% | 105.2% |
| Beta vs S&P 500 | 0.20 | 2.50 |
| Max drawdown (3Y) | -31.8% | -63.9% |
| Market cap | $130.6B | $5.8B |
| P/E (trailing) | 20.9 | – |
| Dividend yield | 2.41% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | LMT | MXL |
|---|---|---|
| 2022 | +40.5% | -55.0% |
| 2023 | -4.3% | -30.0% |
| 2024 | +10.0% | -16.8% |
| 2025 | +2.5% | -11.9% |
| 2026 | +18.4% | +263.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LMT and MXL good diversifiers for each other?
Yes. With a correlation of -0.26, LMT and MXL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LMT and MXL?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.40 over the last year and -0.19 over 5 years.
Is MXL a good diversifier for LMT?
Yes. With a correlation of -0.26, LMT and MXL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
A reading of -0.26 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lmt-vs-mxl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lmt-vs-mxl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LMT correlations · MXL correlations
