COHR vs LITE: Correlation
Coherent Corp. (COHR) and Lumentum (LITE) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COHR and LITE?
Over the past 3 years, COHR and LITE moved with a correlation of 0.68, which is strong. Recent behaviour matches the longer record: 0.64 over 1 year against 0.68 over 3. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 2889.7 %².
Few assets follow COHR as closely as LITE, which ranks #1 of 41 tracked partners. Correlation aside, the last 12 months split them widely, with LITE ahead by 434.2 points (+225.6% versus +659.8%). On a rolling one-year basis the correlation drifted between 0.46 and 0.87, a moderate band.
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.
COHR vs LITE: side by side
| COHR (Coherent Corp.) | LITE (Lumentum) | |
|---|---|---|
| 1-year return | +225.6% | +659.8% |
| 5-year return | +368.6% | +998.1% |
| Volatility (ann.) | 65.0% | 65.5% |
| Beta vs S&P 500 | 2.76 | 2.36 |
| Max drawdown (3Y) | -54.8% | -50.6% |
| Market cap | $57.8B | $85.8B |
| P/E (trailing) | 71.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | COHR | LITE |
|---|---|---|
| 2022 | -48.6% | -50.7% |
| 2023 | +24.0% | +0.5% |
| 2024 | +117.6% | +60.1% |
| 2025 | +94.8% | +339.1% |
| 2026 | +60.0% | +159.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COHR and LITE good diversifiers for each other?
Only partially. A correlation of 0.68 means COHR and LITE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between COHR and LITE?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.64 over the last year and 0.65 over 5 years.
Is LITE a good diversifier for COHR?
Only partially. A correlation of 0.68 means COHR and LITE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
On the −1 to +1 scale, 0.68 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cohr-vs-lite.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cohr-vs-lite/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: COHR correlations · LITE correlations
