FN vs LITE: Correlation
Fabrinet (FN) and Lumentum (LITE) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FN and LITE?
Over the past 3 years, FN and LITE moved with a correlation of 0.57, which is moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.57 over 3. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 2078.3 %².
Among the 13 assets we track against FN, LITE ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with LITE ahead by 629.6 points (+30.2% versus +659.8%).
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.
FN vs LITE: side by side
| FN (Fabrinet) | LITE (Lumentum) | |
|---|---|---|
| 1-year return | +30.2% | +659.8% |
| 5-year return | +317.1% | +998.1% |
| Volatility (ann.) | 55.4% | 65.5% |
| Beta vs S&P 500 | 1.97 | 2.36 |
| Max drawdown (3Y) | -44.5% | -50.6% |
| Market cap | $15.5B | $85.8B |
| P/E (trailing) | 33.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | FN | LITE |
|---|---|---|
| 2022 | +8.2% | -50.7% |
| 2023 | +48.4% | +0.5% |
| 2024 | +15.5% | +60.1% |
| 2025 | +107.1% | +339.1% |
| 2026 | -5.0% | +159.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FN and LITE good diversifiers for each other?
Only partially. A correlation of 0.57 means FN 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 FN and LITE?
As of 2026-08-27, the correlation of weekly returns between FN and LITE is 0.57 over 3 years, 0.54 over 1 year and 0.56 over 5 years.
Is LITE a good diversifier for FN?
Only partially. A correlation of 0.57 means FN 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 0.57 mean?
A reading of 0.57 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/fn-vs-lite.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fn-vs-lite/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FN correlations · LITE correlations
