LITE vs SPY: Correlation
Measured on weekly returns over the past three years, Lumentum (LITE) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LITE and SPY?
Across a 3-year window, the weekly returns of LITE and SPY correlate at 0.52, moderate. The link has loosened recently: the 1-year correlation (0.25) runs below the 3-year figure (0.52). Stretching to 5 years gives 0.47, with an annualized covariance of 493.1 %².
By 3-year correlation, SPY places #17 of the 34 assets tracked against LITE. Correlation aside, the last 12 months split them widely, with LITE ahead by 639.2 points (+659.8% versus +20.6%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.16 and 0.79 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since LITE carries 4.5 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 SPY: side by side
| LITE (Lumentum) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +659.8% | +20.6% |
| 5-year return | +998.1% | +82.4% |
| Volatility (ann.) | 65.5% | 14.5% |
| Beta vs S&P 500 | 2.36 | 1.00 |
| Max drawdown (3Y) | -50.6% | -18.8% |
| Market cap | $85.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | Information Technology | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | LITE | SPY |
|---|---|---|
| 2022 | -50.7% | -18.2% |
| 2023 | +0.5% | +26.2% |
| 2024 | +60.1% | +24.9% |
| 2025 | +339.1% | +17.7% |
| 2026 | +159.4% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that SPY holds LITE at a 0.11% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are LITE and SPY good diversifiers for each other?
To a limited degree. At 0.52 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 SPY?
The LITE/SPY correlation stands at 0.52 on a 3-year window (1 year: 0.25, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for LITE?
To a limited degree. At 0.52 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 0.52 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-spy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lite-vs-spy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LITE correlations · SPY correlations
