LITE vs SMTK: Correlation
Measured on weekly returns over the past three years, Lumentum (LITE) and SmartKem, Inc. (SMTK) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LITE and SMTK?
On 3 years of weekly data the LITE/SMTK correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.19 over 1 year against -0.18 over 3. The 5-year figure is n/a, and annualized covariance runs at -1950.3 %².
Within LITE's tracked universe of 34 assets, SMTK comes in at #28 by 3-year correlation. Correlation aside, the last 12 months split them widely, with LITE ahead by 748.9 points (+659.8% versus -89.1%). Risk is not evenly split, since SMTK carries 2.4 times the volatility of the other side.
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 SMTK: side by side
| LITE (Lumentum) | SMTK (SmartKem, Inc.) | |
|---|---|---|
| 1-year return | +659.8% | -89.1% |
| 5-year return | +998.1% | n/a |
| Volatility (ann.) | 65.5% | 155.8% |
| Beta vs S&P 500 | 2.36 | -0.16 |
| Max drawdown (3Y) | -50.6% | -99.2% |
| Market cap | $85.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | LITE | SMTK |
|---|---|---|
| 2022 | -50.7% | – |
| 2023 | +0.5% | – |
| 2024 | +60.1% | – |
| 2025 | +339.1% | -63.3% |
| 2026 | +159.4% | -93.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LITE and SMTK good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LITE and SMTK?
As of 2026-08-27, the correlation of weekly returns between LITE and SMTK is -0.18 over 3 years, -0.19 over 1 year and n/a over 5 years.
Is SMTK a good diversifier for LITE?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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-smtk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lite-vs-smtk/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LITE correlations · SMTK correlations
