ITT vs LITE: Correlation
ITT Inc. (ITT) and Lumentum (LITE) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITT and LITE?
Across a 3-year window, the weekly returns of ITT and LITE correlate at 0.60, strong. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. Stretching to 5 years gives 0.54, with an annualized covariance of 1072.9 %².
Within ITT's tracked universe of 38 assets, LITE comes in at #27 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months LITE outperformed by 639.0 percentage points (+20.8% for ITT against +659.8% for LITE). One caveat on sizing: LITE is 2.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ITT vs LITE: side by side
| ITT (ITT Inc.) | LITE (Lumentum) | |
|---|---|---|
| 1-year return | +20.8% | +659.8% |
| 5-year return | +124.4% | +998.1% |
| Volatility (ann.) | 27.4% | 65.5% |
| Beta vs S&P 500 | 1.33 | 2.36 |
| Max drawdown (3Y) | -29.1% | -50.6% |
| Market cap | – | $85.8B |
| P/E (trailing) | 40.9 | – |
| Dividend yield | 0.70% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | ITT | LITE |
|---|---|---|
| 2022 | -19.5% | -50.7% |
| 2023 | +48.9% | +0.5% |
| 2024 | +20.9% | +60.1% |
| 2025 | +22.5% | +339.1% |
| 2026 | +20.3% | +159.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ITT and LITE good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ITT and LITE?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.59 over the last year and 0.54 over 5 years.
Is LITE a good diversifier for ITT?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 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/itt-vs-lite.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/itt-vs-lite/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ITT correlations · LITE correlations
