LITE vs NVT: Correlation
How closely do Lumentum (LITE) and nVent Electric plc (NVT) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LITE and NVT?
Over the past 3 years, LITE and NVT moved with a correlation of 0.54, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.39 versus 0.54 over 3 years. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 1302.2 %².
Among the 34 assets we track against LITE, NVT ranks #14 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months LITE outperformed by 587.9 percentage points (+659.8% for LITE against +71.9% for NVT). 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.
LITE vs NVT: side by side
| LITE (Lumentum) | NVT (nVent Electric plc) | |
|---|---|---|
| 1-year return | +659.8% | +71.9% |
| 5-year return | +998.1% | +382.4% |
| Volatility (ann.) | 65.5% | 36.7% |
| Beta vs S&P 500 | 2.36 | 1.68 |
| Max drawdown (3Y) | -50.6% | -46.7% |
| Market cap | $85.8B | $25.2B |
| P/E (trailing) | – | 43.2 |
| Dividend yield | 0.00% | 0.53% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | LITE | NVT |
|---|---|---|
| 2022 | -50.7% | +3.3% |
| 2023 | +0.5% | +56.0% |
| 2024 | +60.1% | +16.6% |
| 2025 | +339.1% | +51.3% |
| 2026 | +159.4% | +53.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LITE and NVT good diversifiers for each other?
To a limited degree. At 0.54 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 NVT?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.39 over the last year and 0.51 over 5 years.
Is NVT a good diversifier for LITE?
To a limited degree. At 0.54 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 0.54 mean?
On the −1 to +1 scale, 0.54 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lite-vs-nvt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lite-vs-nvt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LITE correlations · NVT correlations
