AXTI vs LITE: Correlation
AXT Inc (AXTI) and Lumentum (LITE) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXTI and LITE?
Over the past 3 years, AXTI and LITE moved with a correlation of 0.40, which is moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.40 over 3. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 2876.4 %².
Among the 10 assets we track against AXTI, LITE ranks #4 by 3-year correlation. The last year tells two different stories: AXTI led by 1571.9 percentage points, +2231.7% for AXTI against +659.8% for LITE. Note the risk asymmetry: AXTI runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AXTI vs LITE: side by side
| AXTI (AXT Inc) | LITE (Lumentum) | |
|---|---|---|
| 1-year return | +2231.7% | +659.8% |
| 5-year return | +615.0% | +998.1% |
| Volatility (ann.) | 109.1% | 65.5% |
| Beta vs S&P 500 | 2.64 | 2.36 |
| Max drawdown (3Y) | -78.5% | -50.6% |
| Market cap | $4.4B | $85.8B |
| P/E (trailing) | 2230.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | AXTI | LITE |
|---|---|---|
| 2022 | -50.3% | -50.7% |
| 2023 | -45.2% | +0.5% |
| 2024 | -9.6% | +60.1% |
| 2025 | +653.5% | +339.1% |
| 2026 | +309.3% | +159.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXTI and LITE good diversifiers for each other?
Reasonably. At 0.40, AXTI and LITE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AXTI and LITE?
As of 2026-08-27, the correlation of weekly returns between AXTI and LITE is 0.40 over 3 years, 0.44 over 1 year and 0.42 over 5 years.
Is LITE a good diversifier for AXTI?
Reasonably. At 0.40, AXTI and LITE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/axti-vs-lite.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/axti-vs-lite/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AXTI correlations · LITE correlations
