AIR vs. LHX
AIR (AAR Corp.) and LHX (L3Harris Technologies, Inc.) are both stocks. Both operate in the Aerospace & Defense industry within the Industrials sector. Over the past 10 years, AIR returned 16.85%/yr vs 16.38%/yr for LHX. At a 0.32 correlation, their price movements are largely independent.
Performance
AIR vs. LHX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AIR achieves a 34.51% return, which is significantly higher than LHX's 3.73% return. Both investments have delivered pretty close results over the past 10 years, with AIR having a 16.85% annualized return and LHX not far behind at 16.38%.
AIR
- 1D
- 0.68%
- 1M
- 1.64%
- YTD
- 34.51%
- 6M
- 34.75%
- 1Y
- 72.65%
- 3Y*
- 27.18%
- 5Y*
- 21.87%
- 10Y*
- 16.85%
LHX
- 1D
- -1.52%
- 1M
- -1.68%
- YTD
- 3.73%
- 6M
- 9.64%
- 1Y
- 26.29%
- 3Y*
- 20.73%
- 5Y*
- 8.42%
- 10Y*
- 16.38%
AIR vs. LHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AIR AAR Corp. | 34.51% | 35.10% | -1.79% | 38.98% | 15.04% | 7.76% | -19.25% | 21.74% | -4.31% | 19.89% |
LHX L3Harris Technologies, Inc. | 3.73% | 42.28% | 1.88% | 3.67% | -0.48% | 14.98% | -2.76% | 49.21% | -3.38% | 40.80% |
Correlation
The correlation between AIR and LHX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 1988 | 0.32 |
Fundamentals
AIR:
$4.63
LHX:
$12.29
AIR:
24.07
LHX:
24.69
AIR:
8.42
LHX:
12.66
AIR:
1.31
LHX:
1.90
AIR:
$3.13B
LHX:
$22.48B
AIR:
$595.50M
LHX:
$5.50B
AIR:
$214.30M
LHX:
$3.32B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AIR vs. LHX — Risk / Return Rank
AIR
LHX
AIR vs. LHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AAR Corp. (AIR) and L3Harris Technologies, Inc. (LHX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| AIR | LHX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.81 | 1.09 | +0.72 |
Sortino ratioReturn per unit of downside risk | 2.56 | 1.62 | +0.94 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.20 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 3.67 | 1.28 | +2.38 |
Martin ratioReturn relative to average drawdown | 8.72 | 3.62 | +5.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| AIR | LHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.81 | 1.09 | +0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | 0.35 | +0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | 0.65 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.32 | -0.16 |
Drawdowns
AIR vs. LHX - Drawdown Comparison
The maximum AIR drawdown since its inception was -89.04%, which is greater than LHX's maximum drawdown of -69.82%. Use the drawdown chart below to compare losses from any high point for AIR and LHX.
Loading charts...
Drawdown Indicators
| AIR | LHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.04% | -69.82% | -19.22% |
Max Drawdown (1Y)Largest decline over 1 year | -19.92% | -20.55% | +0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -35.72% | -25.98% | -9.74% |
Max Drawdown (5Y)Largest decline over 5 years | -35.72% | -38.16% | +2.44% |
Max Drawdown (10Y)Largest decline over 10 years | -81.77% | -38.16% | -43.61% |
Current DrawdownCurrent decline from peak | -11.61% | -19.54% | +7.93% |
Average DrawdownAverage peak-to-trough decline | -34.70% | -21.33% | -13.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.36% | 7.28% | +1.08% |
Volatility
AIR vs. LHX - Volatility Comparison
AAR Corp. (AIR) has a higher volatility of 13.62% compared to L3Harris Technologies, Inc. (LHX) at 6.33%. This indicates that AIR's price experiences larger fluctuations and is considered to be riskier than LHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AIR | LHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.62% | 6.33% | +7.29% |
Volatility (6M)Calculated over the trailing 6-month period | 30.97% | 19.61% | +11.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.40% | 24.14% | +16.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.28% | 23.89% | +11.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.25% | 25.40% | +19.85% |
Dividends
AIR vs. LHX - Dividend Comparison
AIR has not paid dividends to shareholders, while LHX's dividend yield for the trailing twelve months is around 1.20%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIR AAR Corp. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.41% | 0.67% | 0.80% | 0.76% | 0.91% | 1.14% |
LHX L3Harris Technologies, Inc. | 1.20% | 1.64% | 2.21% | 2.17% | 2.15% | 1.91% | 1.80% | 1.45% | 1.86% | 1.55% | 2.01% | 2.23% |
Financials
AIR vs. LHX - Financials Comparison
This section allows you to compare key financial metrics between AAR Corp. and L3Harris Technologies, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
AIR vs. LHX - Profitability Comparison
AIR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, AAR Corp. reported a gross profit of 154.70M and revenue of 845.10M. Therefore, the gross margin over that period was 18.3%.
LHX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, L3Harris Technologies, Inc. reported a gross profit of 1.40B and revenue of 5.74B. Therefore, the gross margin over that period was 24.4%.
AIR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, AAR Corp. reported an operating income of 64.80M and revenue of 845.10M, resulting in an operating margin of 7.7%.
LHX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, L3Harris Technologies, Inc. reported an operating income of 652.00M and revenue of 5.74B, resulting in an operating margin of 11.4%.
AIR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, AAR Corp. reported a net income of 68.00M and revenue of 845.10M, resulting in a net margin of 8.1%.
LHX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, L3Harris Technologies, Inc. reported a net income of 512.00M and revenue of 5.74B, resulting in a net margin of 8.9%.
Frequently Asked Questions
AIR and LHX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AIR has higher volatility (13.62%) compared to LHX (6.33%). In terms of maximum drawdown, AIR dropped -89.04% vs LHX's -69.82%.
AIR currently has the higher Sharpe Ratio (1.81 vs 1.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for AIR and LHX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer