LOCL vs TXT: Correlation
Measured on weekly returns over the past three years, Local Bounti Corporation (LOCL) and Textron (TXT) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOCL and TXT?
On 3 years of weekly data the LOCL/TXT correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.03) than the 3-year average (-0.20). The 5-year figure is -0.05, and annualized covariance runs at -723.3 %².
Among the 34 assets we track against LOCL, TXT ranks #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TXT ahead by 59.5 points (-58.8% versus +0.7%). Risk is not evenly split, since LOCL carries 5.6 times the volatility of the other side.
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.
LOCL vs TXT: side by side
| LOCL (Local Bounti Corporation) | TXT (Textron) | |
|---|---|---|
| 1-year return | -58.8% | +0.7% |
| 5-year return | -99.2% | +15.1% |
| Volatility (ann.) | 142.7% | 25.4% |
| Beta vs S&P 500 | -0.49 | 0.89 |
| Max drawdown (3Y) | -79.4% | -37.3% |
| Market cap | – | $14.2B |
| P/E (trailing) | – | 15.7 |
| Dividend yield | 0.00% | 0.10% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | LOCL | TXT |
|---|---|---|
| 2022 | -78.4% | -8.2% |
| 2023 | -88.5% | +13.7% |
| 2024 | +0.0% | -4.8% |
| 2025 | +3.4% | +14.1% |
| 2026 | -53.8% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOCL and TXT good diversifiers for each other?
Yes. With a correlation of -0.20, LOCL and TXT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LOCL and TXT?
The LOCL/TXT correlation stands at -0.20 on a 3-year window (1 year: 0.03, 5 years: -0.05), computed from weekly returns as of 2026-08-27.
Is TXT a good diversifier for LOCL?
Yes. With a correlation of -0.20, LOCL and TXT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 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/locl-vs-txt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/locl-vs-txt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LOCL correlations · TXT correlations
