KEYS vs LITE: Correlation
Measured on weekly returns over the past three years, Keysight Technologies (KEYS) and Lumentum (LITE) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KEYS and LITE?
Across a 3-year window, the weekly returns of KEYS and LITE correlate at 0.58, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.58 over 3. Stretching to 5 years gives 0.53, with an annualized covariance of 1389.3 %².
Among the 43 assets we track against KEYS, LITE ranks #18 by 3-year correlation. The last year tells two different stories: LITE led by 562.4 percentage points, +97.4% for KEYS against +659.8% for LITE. The rolling one-year correlation moved between 0.35 and 0.73 over the past three years, a moderate range. Note the risk asymmetry: LITE runs 1.8 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.
KEYS vs LITE: side by side
| KEYS (Keysight Technologies) | LITE (Lumentum) | |
|---|---|---|
| 1-year return | +97.4% | +659.8% |
| 5-year return | +81.9% | +998.1% |
| Volatility (ann.) | 36.8% | 65.5% |
| Beta vs S&P 500 | 1.58 | 2.36 |
| Max drawdown (3Y) | -31.4% | -50.6% |
| Market cap | $55.5B | $85.8B |
| P/E (trailing) | 43.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | KEYS | LITE |
|---|---|---|
| 2022 | -17.2% | -50.7% |
| 2023 | -7.0% | +0.5% |
| 2024 | +1.0% | +60.1% |
| 2025 | +26.5% | +339.1% |
| 2026 | +60.4% | +159.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KEYS and LITE good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between KEYS and LITE?
The KEYS/LITE correlation stands at 0.58 on a 3-year window (1 year: 0.48, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is LITE a good diversifier for KEYS?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
A reading of 0.58 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/keys-vs-lite.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/keys-vs-lite/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KEYS correlations · LITE correlations
