IIPR vs. LMT
IIPR (Innovative Industrial Properties, Inc.) and LMT (Lockheed Martin Corporation) are both stocks. IIPR operates in REIT - Industrial (Real Estate), while LMT operates in Aerospace & Defense (Industrials). Over the past 5 years, IIPR returned -13.57%/yr vs 9.78%/yr for LMT. At a 0.10 correlation, their price movements are largely independent.
Performance
IIPR vs. LMT - Performance Comparison
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Returns By Period
In the year-to-date period, IIPR achieves a 32.69% return, which is significantly higher than LMT's 13.04% return.
IIPR
- 1D
- -2.07%
- 1M
- 12.06%
- YTD
- 32.69%
- 6M
- 15.09%
- 1Y
- 24.22%
- 3Y*
- 4.81%
- 5Y*
- -13.57%
- 10Y*
- —
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%
IIPR vs. LMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IIPR Innovative Industrial Properties, Inc. | 32.69% | -18.40% | -28.55% | 8.78% | -59.02% | 47.49% | 151.33% | 72.52% | 43.88% | 82.30% |
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 IIPR and LMT is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2016 | 0.10 |
The correlation between IIPR and LMT shifts across timeframes, from -0.01 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
Fundamentals
IIPR:
$1.72B
LMT:
$124.87B
IIPR:
$4.14
LMT:
$20.61
IIPR:
14.62
LMT:
26.21
IIPR:
6.51
LMT:
1.67
IIPR:
0.96
LMT:
16.67
IIPR:
$263.23M
LMT:
$75.12B
IIPR:
$195.78M
LMT:
$7.37B
IIPR:
$210.04M
LMT:
$8.09B
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Return for Risk
IIPR vs. LMT — Risk / Return Rank
IIPR
LMT
IIPR vs. LMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovative Industrial Properties, Inc. (IIPR) 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.
| IIPR | LMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.14 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 0.73 | +0.36 |
| Martin ratioReturn relative to average drawdown | 2.65 | 1.69 | +0.96 |
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Drawdowns
IIPR vs. LMT - Drawdown Comparison
The maximum IIPR drawdown since its inception was -78.42%, roughly equal to the maximum LMT drawdown of -79.29%. Use the drawdown chart below to compare losses from any high point for IIPR and LMT.
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Drawdown Indicators
| IIPR | LMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.42% | -79.29% | +0.87% |
Max Drawdown (1Y)Largest decline over 1 year | -21.29% | -25.15% | +3.86% |
Max Drawdown (3Y)Largest decline over 3 years | -62.92% | -31.79% | -31.13% |
Max Drawdown (5Y)Largest decline over 5 years | -78.42% | -31.79% | -46.63% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.67% | — |
Current DrawdownCurrent decline from peak | -68.14% | -19.63% | -48.51% |
Average DrawdownAverage peak-to-trough decline | -37.34% | -26.83% | -10.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.73% | 10.81% | -2.08% |
Volatility
IIPR vs. LMT - Volatility Comparison
Innovative Industrial Properties, Inc. (IIPR) has a higher volatility of 9.13% compared to Lockheed Martin Corporation (LMT) at 7.02%. This indicates that IIPR'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
| IIPR | LMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.13% | 7.02% | +2.11% |
Volatility (6M)Calculated over the trailing 6-month period | 30.31% | 20.04% | +10.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.56% | 26.71% | +14.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.71% | 22.99% | +18.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.46% | 23.76% | +24.70% |
Dividends
IIPR vs. LMT - Dividend Comparison
IIPR's dividend yield for the trailing twelve months is around 12.56%, more than LMT's 2.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IIPR Innovative Industrial Properties, Inc. | 12.56% | 16.05% | 11.28% | 7.16% | 7.01% | 2.18% | 2.44% | 3.73% | 1.87% | 1.70% | 0.00% | 0.00% |
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
IIPR vs. LMT - Financials Comparison
This section allows you to compare key financial metrics between Innovative Industrial Properties, Inc. 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
IIPR vs. LMT - Profitability Comparison
IIPR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Innovative Industrial Properties, Inc. reported a gross profit of 61.42M and revenue of 69.00M. Therefore, the gross margin over that period was 89.0%.
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%.
IIPR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Innovative Industrial Properties, Inc. reported an operating income of 32.91M and revenue of 69.00M, resulting in an operating margin of 47.7%.
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%.
IIPR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Innovative Industrial Properties, Inc. reported a net income of 30.16M and revenue of 69.00M, resulting in a net margin of 43.7%.
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
IIPR and LMT have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IIPR has higher volatility (9.13%) compared to LMT (7.02%). In terms of maximum drawdown, IIPR dropped -78.42% vs LMT's -79.29%.
LMT currently has the higher Sharpe Ratio (0.69 vs 0.56), 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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