Correlation Analysis
Lumentum Holdings Inc. Common Stock vs Eli Lilly & Co.
LITE vs LLY
+0.411
Moderate positive
When one moves up, the other tends to follow.
Lumentum Holdings Inc. Common Stock
↗LITE
Lumentum Holdings Inc is a California-based technology firm. The company provides two types of optical and photonic products: optical components that are used in telecommunications networking equipment, and commercial lasers for manufacturing, inspection, and life-science lab uses. Its segments are Optical Communications and Commercial Lasers. The firm is also expanding into new optical applications, such as 3-D sensing laser diode for consumer electronics. It generates maximum revenue from the OpComms segment. The OpComms segment products include a wide range of components, modules, and subsystems to support customers including carrier networks for access (local), metro (intracity), long-haul, and submarine (undersea) applications.
Market cap 55.1B · 10,562 employees
Eli Lilly & Co.
↗LLY
Eli Lilly is a drug firm with a focus on neuroscience, cardiometabolic, cancer, and immunology. Lilly's key products include Verzenio for cancer; Mounjaro, Zepbound, Jardiance, Trulicity, Humalog, and Humulin for cardiometabolic; and Taltz and Olumiant for immunology.
Market cap 828.2B · 50,000 employees
Time Series
Relative Performance
Who Moves First
LLY leads LITE by 6 days
LLY tends to move before LITE.
After testing 13 timing shifts, the strongest relationship was +0.421 (they moved in the same direction).
Do They Crash Together?
Correlation by Market Regime
How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.
Both Rising
+0.934
9 periods · Return correlation when both series rose
Both Falling
N/A
4 periods · Return correlation when both series fell
Diverging
-0.492
22 periods · Return correlation when series moved apart
R-Squared
16.9%
Share of variance in one series explained by the other.
Trend Agreement
54.6%
How often both series moved in the same direction period-to-period.
Overlap Quality
1,254
Deep shared window — 1,254 usable pairs.
Significance
p < 0.001
95% CI: [0.364, 0.456]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,254 paired data points survived the daily window.
Raw input
1,254
1,254
Normalized
1,254
1,254
Prepared
1,254
1,254
Aligned
1,254
1,254
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
0
A: 0 / B: 0
Series A
Lumentum Holdings Inc. Common Stock
LITE
Market cap 55.1B · 10,562 employees
Stock · 1,254 raw → 1,254 prepared
Series B
Eli Lilly & Co.
LLY
Market cap 828.2B · 50,000 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
4
Estimated crossover points between normalized spreads.
Slope
0.9056
Linear regression slope.
Intercept
472.8468
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
LITE
Lumentum Holdings Inc. Common Stock
Highest
+0.915
Micron Technology, Inc.
MU · 1,254 data points
Lowest
+0.260
Microsoft Corp
MSFT · 1,254 data points
Saved 7 hours ago · ID: stock-lite-vs-stock-lly-daily