CARL-B.CO vs. LMT

Last updated Jun 5, 2026

CARL-B.CO (Carlsberg A/S) and LMT (Lockheed Martin Corporation) are both stocks. CARL-B.CO operates in Beverages - Brewers (Consumer Defensive), while LMT operates in Aerospace & Defense (Industrials). Over the past 10 years, CARL-B.CO returned 5.14%/yr vs 10.93%/yr for LMT. At a 0.09 correlation, their price movements are largely independent.

Performance

CARL-B.CO vs. LMT - Performance Comparison

The chart below illustrates the hypothetical performance of a DKK 10,000 investment in Carlsberg A/S (CARL-B.CO) and Lockheed Martin Corporation (LMT). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CARL-B.CO is traded in DKK, while LMT is traded in USD. To make them comparable, the LMT values have been converted to DKK using the latest available exchange rates.

Returns By Period

In the year-to-date period, CARL-B.CO achieves a 1.13% return, which is significantly lower than LMT's 11.76% return. Over the past 10 years, CARL-B.CO has underperformed LMT with an annualized return of 5.14%, while LMT has yielded a comparatively higher 10.93% annualized return.

CARL-B.CO

• 1D: -1.54%
• 1M: -6.54%
• YTD: 1.13%
• 6M: 3.56%
• 1Y: -11.54%
• 3Y*: -5.04%
• 5Y*: -3.03%
• 10Y*: 5.14%

LMT

• 1D: 1.68%
• 1M: 4.54%
• YTD: 11.76%
• 6M: 18.51%
• 1Y: 11.97%
• 3Y*: 4.84%
• 5Y*: 10.04%
• 10Y*: 10.93%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CARL-B.CO vs. LMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CARL-B.CO Carlsberg A/S	1.13%	24.73%	-16.11%	-5.74%	-15.78%	18.41%	1.01%	46.68%	-4.93%	24.15%
LMT Lockheed Martin Corporation	11.76%	-9.54%	17.34%	-6.94%	49.24%	10.71%	-14.54%	56.11%	-12.21%	15.69%

Correlation

The correlation between CARL-B.CO and LMT is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (5Y) Calculated over the trailing 5-year period	-0.07
Correlation (10Y) Calculated over the trailing 10-year period	0.04
Correlation (All Time) Calculated using the full available price history since Aug 31, 2007	0.09

The correlation between CARL-B.CO and LMT shifts across timeframes, from -0.07 (5 years) to 0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CARL-B.CO vs. LMT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CARL-B.CO

CARL-B.CO Risk / Return Rank: 21
CARL-B.CO Sharpe Ratio Rank: 19
CARL-B.CO Sortino Ratio Rank: 18
CARL-B.CO Omega Ratio Rank: 19
CARL-B.CO Calmar Ratio Rank: 22
CARL-B.CO Martin Ratio Rank: 25

LMT

LMT Risk / Return Rank: 53
LMT Sharpe Ratio Rank: 58
LMT Sortino Ratio Rank: 49
LMT Omega Ratio Rank: 50
LMT Calmar Ratio Rank: 53
LMT Martin Ratio Rank: 54

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CARL-B.CO vs. LMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Carlsberg A/S (CARL-B.CO) and Lockheed Martin Corporation (LMT). 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.

	CARL-B.CO	LMT	Difference
Sharpe ratio: Return per unit of total volatility	-0.52	0.44	-0.96
Sortino ratio: Return per unit of downside risk	-0.60	0.74	-1.34
Omega ratio: Gain probability vs. loss probability	0.93	1.10	-0.17
Calmar ratio: Return relative to maximum drawdown	-0.55	0.47	-1.02
Martin ratio: Return relative to average drawdown	-0.87	1.14	-2.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CARL-B.CO vs. LMT - Sharpe Ratio Comparison

The current CARL-B.CO Sharpe Ratio is -0.52, which is lower than the LMT Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of CARL-B.CO and LMT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CARL-B.CO	LMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.52	0.44	-0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.13	0.42	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	0.44	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.56	-0.35

Drawdowns

CARL-B.CO vs. LMT - Drawdown Comparison

The maximum CARL-B.CO drawdown since its inception was -75.46%, which is greater than LMT's maximum drawdown of -44.82%. Use the drawdown chart below to compare losses from any high point for CARL-B.CO and LMT.

Drawdown Indicators

	CARL-B.CO	LMT	Difference
Max Drawdown Largest peak-to-trough decline	-75.46%	-44.82%	-30.64%
Max Drawdown (1Y) Largest decline over 1 year	-21.24%	-25.73%	+4.49%
Max Drawdown (3Y) Largest decline over 3 years	-36.63%	-37.18%	+0.55%
Max Drawdown (5Y) Largest decline over 5 years	-39.46%	-37.18%	-2.28%
Max Drawdown (10Y) Largest decline over 10 years	-39.46%	-37.18%	-2.28%
Current Drawdown Current decline from peak	-21.50%	-20.93%	-0.57%
Average Drawdown Average peak-to-trough decline	-18.77%	-12.67%	-6.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.39%	10.55%	+3.84%

Volatility

CARL-B.CO vs. LMT - Volatility Comparison

Carlsberg A/S (CARL-B.CO) has a higher volatility of 7.96% compared to Lockheed Martin Corporation (LMT) at 5.43%. This indicates that CARL-B.CO's price experiences larger fluctuations and is considered to be riskier than LMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CARL-B.CO	LMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.96%	5.43%	+2.53%
Volatility (6M) Calculated over the trailing 6-month period	17.71%	20.08%	-2.37%
Volatility (1Y) Calculated over the trailing 1-year period	22.70%	27.46%	-4.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.03%	23.97%	-0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.93%	24.74%	-2.81%

Dividends

CARL-B.CO vs. LMT - Dividend Comparison

CARL-B.CO's dividend yield for the trailing twelve months is around 3.55%, more than LMT's 2.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CARL-B.CO Carlsberg A/S	3.55%	3.23%	3.91%	3.19%	2.60%	1.95%	2.15%	1.81%	2.31%	1.34%	1.48%	1.47%
LMT Lockheed Martin Corporation	2.61%	2.76%	2.62%	2.68%	2.34%	2.98%	2.76%	2.31%	3.13%	2.32%	2.71%	2.83%

Financials

Frequently Asked Questions

Can I hold both CARL-B.CO and LMT in my portfolio?

CARL-B.CO and LMT have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.