LITE vs MOD: Correlation
Measured on weekly returns over the past three years, Lumentum (LITE) and Modine Manufacturing Company (MOD) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LITE and MOD?
On 3 years of weekly data the LITE/MOD correlation comes out at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. The 5-year figure is 0.47, and annualized covariance runs at 2119.1 %².
Among the 34 assets we track against LITE, MOD ranks #12 by 3-year correlation. The last year tells two different stories: LITE led by 627.1 percentage points, +659.8% for LITE against +32.7% for MOD.
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 MOD: side by side
| LITE (Lumentum) | MOD (Modine Manufacturing Company) | |
|---|---|---|
| 1-year return | +659.8% | +32.7% |
| 5-year return | +998.1% | +1391.7% |
| Volatility (ann.) | 65.5% | 59.1% |
| Beta vs S&P 500 | 2.36 | 1.87 |
| Max drawdown (3Y) | -50.6% | -51.6% |
| Market cap | $85.8B | $9.9B |
| P/E (trailing) | – | 70.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | LITE | MOD |
|---|---|---|
| 2022 | -50.7% | +96.8% |
| 2023 | +0.5% | +200.6% |
| 2024 | +60.1% | +94.2% |
| 2025 | +339.1% | +15.2% |
| 2026 | +159.4% | +39.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LITE and MOD good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between LITE and MOD?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.53 over the last year and 0.47 over 5 years.
Is MOD a good diversifier for LITE?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
A reading of 0.55 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/lite-vs-mod.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lite-vs-mod/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LITE correlations · MOD correlations
