INV vs LITE: Correlation
How closely do Innventure, Inc. (INV) and Lumentum (LITE) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INV and LITE?
On 3 years of weekly data the INV/LITE correlation comes out at 0.33, moderate. The relationship has been stable: the 1-year correlation (0.31) sits close to the 3-year figure. The 5-year figure is 0.29, and annualized covariance runs at 1963.0 %².
Among the 16 assets we track against INV, LITE ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months LITE outperformed by 729.2 percentage points (-69.4% for INV against +659.8% for LITE).
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.
INV vs LITE: side by side
| INV (Innventure, Inc.) | LITE (Lumentum) | |
|---|---|---|
| 1-year return | -69.4% | +659.8% |
| 5-year return | -85.4% | +998.1% |
| Volatility (ann.) | 90.9% | 65.5% |
| Beta vs S&P 500 | 1.31 | 2.36 |
| Max drawdown (3Y) | -90.4% | -50.6% |
| Market cap | $0.1B | $85.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | INV | LITE |
|---|---|---|
| 2022 | +1.1% | -50.7% |
| 2023 | +7.3% | +0.5% |
| 2024 | +27.8% | +60.1% |
| 2025 | -69.8% | +339.1% |
| 2026 | -65.1% | +159.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INV and LITE good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between INV and LITE?
The INV/LITE correlation stands at 0.33 on a 3-year window (1 year: 0.31, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is LITE a good diversifier for INV?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/inv-vs-lite.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/inv-vs-lite/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: INV correlations · LITE correlations
