LPLA vs TLT: Correlation
Measured on weekly returns over the past three years, LPL Financial Holdings Inc. (LPLA) and iShares 20+ Year Treasury Bond ETF (TLT) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LPLA and TLT?
Over the past 3 years, LPLA and TLT moved with a correlation of -0.27, 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 -0.27 over 3 years. Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -126.0 %².
Among the 22 assets we track against LPLA, TLT ranks #17 by 3-year correlation. Neither side won the trailing year by much: -0.9% against +0.3%. One caveat on sizing: LPLA is 2.6 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.
LPLA vs TLT: side by side
| LPLA (LPL Financial Holdings Inc.) | TLT (iShares 20+ Year Treasury Bond ETF) | |
|---|---|---|
| 1-year return | -0.9% | +0.3% |
| 5-year return | +149.0% | -34.0% |
| Volatility (ann.) | 34.6% | 13.5% |
| Beta vs S&P 500 | 0.97 | 0.11 |
| Max drawdown (3Y) | -33.2% | -14.8% |
| Market cap | $28.4B | – |
| P/E (trailing) | 28.8 | – |
| Dividend yield | 0.33% | 4.75% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $41.5B |
| Sector / category | US Listed | ETF · Bonds |
On the fund side, TLT sits in the Long Government category at iShares, with $41.5B under management, a 0.15% expense ratio, a 4.75% trailing dividend yield.
Year-by-year returns
| Year | LPLA | TLT |
|---|---|---|
| 2022 | +35.7% | -31.2% |
| 2023 | +5.9% | +2.8% |
| 2024 | +44.1% | -8.1% |
| 2025 | +9.8% | +4.2% |
| 2026 | +1.4% | -2.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LPLA and TLT good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between LPLA and TLT?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.40 over the last year and -0.26 over 5 years.
Is TLT a good diversifier for LPLA?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 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/lpla-vs-tlt.json
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[](https://www.pairbook.io/pair/lpla-vs-tlt/)
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Related comparisons
Hubs: LPLA correlations · TLT correlations
