CLS vs. LITE

Last updated Jun 13, 2026

CLS (Celestica Inc.) and LITE (Lumentum Holdings Inc.) are both stocks. Both are in the Technology sector — CLS in Electronic Components, LITE in Communication Equipment. Over the past 10 years, CLS returned 43.71%/yr vs 43.74%/yr for LITE. At a 0.42 correlation, their price movements are largely independent.

Performance

CLS vs. LITE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Celestica Inc. (CLS) and Lumentum Holdings Inc. (LITE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLS achieves a 32.99% return, which is significantly lower than LITE's 150.02% return. Both investments have delivered pretty close results over the past 10 years, with CLS having a 43.71% annualized return and LITE not far ahead at 43.74%.

CLS

• 1D: 1.88%
• 1M: 9.64%
• YTD: 32.99%
• 6M: 28.26%
• 1Y: 213.67%
• 3Y*: 207.28%
• 5Y*: 116.26%
• 10Y*: 43.71%

LITE

• 1D: 3.59%
• 1M: -5.06%
• YTD: 150.02%
• 6M: 184.13%
• 1Y: 1,017.52%
• 3Y*: 158.28%
• 5Y*: 62.72%
• 10Y*: 43.74%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CLS vs. LITE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CLS Celestica Inc.	32.99%	220.27%	215.23%	159.80%	1.26%	37.92%	-2.42%	-5.70%	-16.32%	-11.56%
LITE Lumentum Holdings Inc.	150.02%	339.06%	60.15%	0.48%	-50.68%	11.57%	19.55%	88.76%	-14.09%	26.52%

Correlation

The correlation between CLS and LITE is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (10Y) Calculated over the trailing 10-year period	0.44
Correlation (All Time) Calculated using the full available price history since Aug 4, 2015	0.42

The correlation between CLS and LITE shifts across timeframes, from 0.42 (all time) to 0.57 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CLS : $45.48B LITE : $88.65B
EPS CLS : $8.28 LITE : $5.26
PE Ratio CLS : 47.45 LITE : 175.08
PS Ratio CLS : 3.30 LITE : 30.95
PB Ratio CLS : 21.68 LITE : 29.82
Total Revenue (TTM) CLS : $13.81B LITE : $2.49B
Gross Profit (TTM) CLS : $1.60B LITE : $938.50M
EBITDA (TTM) CLS : $1.32B LITE : $470.10M

Return for Risk

CLS vs. LITE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CLS

CLS Risk / Return Rank: 92
CLS Sharpe Ratio Rank: 95
CLS Sortino Ratio Rank: 88
CLS Omega Ratio Rank: 88
CLS Calmar Ratio Rank: 96
CLS Martin Ratio Rank: 95

LITE

LITE Risk / Return Rank: 99
LITE Sharpe Ratio Rank: 100
LITE Sortino Ratio Rank: 99
LITE Omega Ratio Rank: 98
LITE Calmar Ratio Rank: 100
LITE Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CLS vs. LITE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Celestica Inc. (CLS) and Lumentum Holdings Inc. (LITE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CLS	LITE	Difference
Sharpe ratio: Return per unit of total volatility	2.78	11.43	-8.65
Sortino ratio: Return per unit of downside risk	2.81	5.42	-2.62
Omega ratio: Gain probability vs. loss probability	1.37	1.71	-0.34
Calmar ratio: Return relative to maximum drawdown	6.91	34.43	-27.52
Martin ratio: Return relative to average drawdown	16.83	126.26	-109.44

CLS vs. LITE - Sharpe Ratio Comparison

The current CLS Sharpe Ratio is 2.78, which is lower than the LITE Sharpe Ratio of 11.43. The chart below compares the historical Sharpe Ratios of CLS and LITE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CLS vs. LITE - Drawdown Comparison

The maximum CLS drawdown since its inception was -96.93%, which is greater than LITE's maximum drawdown of -66.89%. Use the drawdown chart below to compare losses from any high point for CLS and LITE.

Drawdown Indicators

	CLS	LITE	Difference
Max Drawdown Largest peak-to-trough decline	-96.93%	-66.89%	-30.04%
Max Drawdown (1Y) Largest decline over 1 year	-29.24%	-28.70%	-0.54%
Max Drawdown (3Y) Largest decline over 3 years	-53.96%	-50.63%	-3.33%
Max Drawdown (5Y) Largest decline over 5 years	-53.96%	-66.48%	+12.52%
Max Drawdown (10Y) Largest decline over 10 years	-80.60%	-66.89%	-13.71%
Current Drawdown Current decline from peak	-16.78%	-12.49%	-4.29%
Average Drawdown Average peak-to-trough decline	-73.31%	-23.57%	-49.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.98%	7.81%	+4.17%

Volatility

CLS vs. LITE - Volatility Comparison

Celestica Inc. (CLS) and Lumentum Holdings Inc. (LITE) have volatilities of 27.54% and 28.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLS	LITE	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.54%	28.12%	-0.58%
Volatility (6M) Calculated over the trailing 6-month period	55.42%	69.73%	-14.31%
Volatility (1Y) Calculated over the trailing 1-year period	72.65%	86.47%	-13.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.70%	59.94%	-2.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.97%	56.62%	-6.65%

Dividends

CLS vs. LITE - Dividend Comparison

Neither CLS nor LITE has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

CLS vs. LITE - Profitability Comparison

The chart below illustrates the profitability comparison between Celestica Inc. and Lumentum Holdings Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CLS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Celestica Inc. reported a gross profit of 437.20M and revenue of 4.05B. Therefore, the gross margin over that period was 10.8%.

LITE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Lumentum Holdings Inc. reported a gross profit of 357.00M and revenue of 808.40M. Therefore, the gross margin over that period was 44.2%.

CLS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Celestica Inc. reported an operating income of 272.10M and revenue of 4.05B, resulting in an operating margin of 6.7%.

LITE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Lumentum Holdings Inc. reported an operating income of 174.50M and revenue of 808.40M, resulting in an operating margin of 21.6%.

CLS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Celestica Inc. reported a net income of 212.30M and revenue of 4.05B, resulting in a net margin of 5.3%.

LITE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Lumentum Holdings Inc. reported a net income of 144.20M and revenue of 808.40M, resulting in a net margin of 17.8%.

Frequently Asked Questions

Can I hold both CLS and LITE in my portfolio?

CLS and LITE have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLS or LITE?

LITE has higher volatility (28.12%) compared to CLS (27.54%). In terms of maximum drawdown, CLS dropped -96.93% vs LITE's -66.89%.

Which has better risk-adjusted returns?

LITE currently has the higher Sharpe Ratio (11.43 vs 2.78), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.