LITE vs MATH: Correlation
How closely do Lumentum (LITE) and Metalpha Technology Holding Limited (MATH) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LITE and MATH?
On 3 years of weekly data the LITE/MATH correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.34 versus -0.19 over 3 years. The 5-year figure is -0.13, and annualized covariance runs at -1116.5 %².
By 3-year correlation, MATH places #29 of the 34 assets tracked against LITE. Their recent paths diverged sharply: over the last 12 months LITE outperformed by 730.5 percentage points (+659.8% for LITE against -70.7% for MATH).
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.
LITE vs MATH: side by side
| LITE (Lumentum) | MATH (Metalpha Technology Holding Limited) | |
|---|---|---|
| 1-year return | +659.8% | -70.7% |
| 5-year return | +998.1% | -40.4% |
| Volatility (ann.) | 65.5% | 90.1% |
| Beta vs S&P 500 | 2.36 | 0.53 |
| Max drawdown (3Y) | -50.6% | -81.9% |
| Market cap | $85.8B | – |
| P/E (trailing) | – | 41.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | LITE | MATH |
|---|---|---|
| 2022 | -50.7% | -57.4% |
| 2023 | +0.5% | +323.3% |
| 2024 | +60.1% | -47.2% |
| 2025 | +339.1% | +82.6% |
| 2026 | +159.4% | -60.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LITE and MATH good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between LITE and MATH?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.34 over the last year and -0.13 over 5 years.
Is MATH a good diversifier for LITE?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 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/lite-vs-math.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lite-vs-math/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LITE correlations · MATH correlations
