LMT vs TDY: Correlation
Measured on weekly returns over the past three years, Lockheed Martin (LMT) and Teledyne Technologies (TDY) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LMT and TDY?
Over the past 3 years, LMT and TDY moved with a correlation of 0.34, which is moderate. The relationship has been stable: the 1-year correlation (0.44) sits close to the 3-year figure. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 194.7 %².
By 3-year correlation, TDY places #15 of the 29 assets tracked against LMT. On 12-month performance LMT holds a 12.2-point edge, +27.9% against +15.7%. On a rolling one-year basis the correlation drifted between 0.18 and 0.45, a moderate band.
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 TDY: side by side
| LMT (Lockheed Martin) | TDY (Teledyne Technologies) | |
|---|---|---|
| 1-year return | +27.9% | +15.7% |
| 5-year return | +78.9% | +36.5% |
| Volatility (ann.) | 26.0% | 22.0% |
| Beta vs S&P 500 | 0.20 | 0.76 |
| Max drawdown (3Y) | -31.8% | -18.8% |
| Market cap | $130.6B | $29.0B |
| P/E (trailing) | 20.9 | 30.7 |
| Dividend yield | 2.41% | 0.00% |
| Sector / category | Industrials | Information Technology |
Year-by-year returns
| Year | LMT | TDY |
|---|---|---|
| 2022 | +40.5% | -8.5% |
| 2023 | -4.3% | +11.6% |
| 2024 | +10.0% | +4.0% |
| 2025 | +2.5% | +10.0% |
| 2026 | +18.4% | +22.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LMT and TDY good diversifiers for each other?
Reasonably. At 0.34, LMT and TDY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LMT and TDY?
As of 2026-08-27, the correlation of weekly returns between LMT and TDY is 0.34 over 3 years, 0.44 over 1 year and 0.39 over 5 years.
Is TDY a good diversifier for LMT?
Reasonably. At 0.34, LMT and TDY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 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-tdy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lmt-vs-tdy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LMT correlations · TDY correlations
