COP vs. LMT
COP (ConocoPhillips Company) and LMT (Lockheed Martin Corporation) are both stocks. COP operates in Oil & Gas E&P (Energy), while LMT operates in Aerospace & Defense (Industrials). Over the past 10 years, COP returned 13.66%/yr vs 11.37%/yr for LMT. At a 0.22 correlation, their price movements are largely independent.
Performance
COP vs. LMT - Performance Comparison
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Returns By Period
In the year-to-date period, COP achieves a 26.87% return, which is significantly higher than LMT's 13.04% return. Over the past 10 years, COP has outperformed LMT with an annualized return of 13.66%, while LMT has yielded a comparatively lower 11.37% annualized return.
COP
- 1D
- 1.40%
- 1M
- -4.44%
- YTD
- 26.87%
- 6M
- 24.31%
- 1Y
- 24.65%
- 3Y*
- 7.68%
- 5Y*
- 18.49%
- 10Y*
- 13.66%
LMT
- 1D
- -1.52%
- 1M
- 5.40%
- YTD
- 13.04%
- 6M
- 13.84%
- 1Y
- 14.07%
- 3Y*
- 8.98%
- 5Y*
- 9.78%
- 10Y*
- 11.37%
COP vs. LMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COP ConocoPhillips Company | 26.87% | -2.34% | -12.02% | 1.98% | 71.69% | 86.60% | -36.04% | 6.63% | 15.63% | 11.95% |
LMT Lockheed Martin Corporation | 13.04% | 2.47% | 10.02% | -4.31% | 40.48% | 3.15% | -6.49% | 52.55% | -16.35% | 31.77% |
Correlation
The correlation between COP and LMT is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 1981 | 0.22 |
The correlation between COP and LMT shifts across timeframes, from 0.14 (1 year) to 0.28 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
COP:
$143.30B
LMT:
$124.87B
COP:
$5.90
LMT:
$20.61
COP:
19.83
LMT:
26.21
COP:
2.49
LMT:
1.67
COP:
2.22
LMT:
16.67
COP:
$58.31B
LMT:
$75.12B
COP:
$17.02B
LMT:
$7.37B
COP:
$22.44B
LMT:
$8.09B
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Return for Risk
COP vs. LMT — Risk / Return Rank
COP
LMT
COP vs. LMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ConocoPhillips Company (COP) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| COP | LMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.14 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 0.73 | +1.13 |
| Martin ratioReturn relative to average drawdown | 4.08 | 1.69 | +2.38 |
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Drawdowns
COP vs. LMT - Drawdown Comparison
The maximum COP drawdown since its inception was -84.55%, which is greater than LMT's maximum drawdown of -79.29%. Use the drawdown chart below to compare losses from any high point for COP and LMT.
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Drawdown Indicators
| COP | LMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.55% | -79.29% | -5.26% |
Max Drawdown (1Y)Largest decline over 1 year | -14.90% | -25.15% | +10.25% |
Max Drawdown (3Y)Largest decline over 3 years | -36.19% | -31.79% | -4.40% |
Max Drawdown (5Y)Largest decline over 5 years | -36.19% | -31.79% | -4.40% |
Max Drawdown (10Y)Largest decline over 10 years | -70.66% | -36.67% | -33.99% |
Current DrawdownCurrent decline from peak | -11.92% | -19.63% | +7.71% |
Average DrawdownAverage peak-to-trough decline | -25.49% | -26.83% | +1.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.80% | 10.81% | -4.01% |
Volatility
COP vs. LMT - Volatility Comparison
ConocoPhillips Company (COP) has a higher volatility of 8.72% compared to Lockheed Martin Corporation (LMT) at 7.02%. This indicates that COP'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.
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Volatility by Period
| COP | LMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.72% | 7.02% | +1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 23.05% | 20.04% | +3.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.33% | 26.71% | +2.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.80% | 22.99% | +9.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.64% | 23.76% | +13.88% |
Dividends
COP vs. LMT - Dividend Comparison
COP's dividend yield for the trailing twelve months is around 2.82%, more than LMT's 2.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COP ConocoPhillips Company | 2.82% | 3.40% | 3.35% | 3.37% | 4.23% | 2.70% | 4.23% | 2.05% | 1.86% | 1.93% | 1.99% | 6.30% |
LMT Lockheed Martin Corporation | 2.53% | 2.76% | 2.62% | 2.68% | 2.34% | 2.98% | 2.76% | 2.31% | 3.13% | 2.32% | 2.71% | 2.83% |
Financials
COP vs. LMT - Financials Comparison
This section allows you to compare key financial metrics between ConocoPhillips Company and Lockheed Martin Corporation. 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
COP vs. LMT - Profitability Comparison
COP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, ConocoPhillips Company reported a gross profit of 7.50B and revenue of 16.05B. Therefore, the gross margin over that period was 46.7%.
LMT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Lockheed Martin Corporation reported a gross profit of 2.08B and revenue of 18.02B. Therefore, the gross margin over that period was 11.5%.
COP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, ConocoPhillips Company reported an operating income of 3.36B and revenue of 16.05B, resulting in an operating margin of 21.0%.
LMT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Lockheed Martin Corporation reported an operating income of 2.06B and revenue of 18.02B, resulting in an operating margin of 11.5%.
COP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, ConocoPhillips Company reported a net income of 2.18B and revenue of 16.05B, resulting in a net margin of 13.6%.
LMT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Lockheed Martin Corporation reported a net income of 1.49B and revenue of 18.02B, resulting in a net margin of 8.3%.
Frequently Asked Questions
COP and LMT have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COP has higher volatility (8.72%) compared to LMT (7.02%). In terms of maximum drawdown, COP dropped -84.55% vs LMT's -79.29%.
COP currently has the higher Sharpe Ratio (0.95 vs 0.69), 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.
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