GLW vs. LITE

Last updated Jun 4, 2026

GLW (Corning Incorporated) and LITE (Lumentum Holdings Inc.) are both stocks. Both are in the Technology sector — GLW in Electronic Components, LITE in Communication Equipment. Over the past 10 years, GLW returned 28.52%/yr vs 43.96%/yr for LITE. At a 0.45 correlation, their price movements are largely independent.

Performance

GLW vs. LITE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Corning Incorporated (GLW) 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, GLW achieves a 130.06% return, which is significantly lower than LITE's 154.48% return. Over the past 10 years, GLW has underperformed LITE with an annualized return of 28.52%, while LITE has yielded a comparatively higher 43.96% annualized return.

GLW

• 1D: 0.18%
• 1M: 25.70%
• YTD: 130.06%
• 6M: 141.10%
• 1Y: 299.67%
• 3Y*: 89.73%
• 5Y*: 39.39%
• 10Y*: 28.52%

LITE

• 1D: -8.86%
• 1M: -3.91%
• YTD: 154.48%
• 6M: 209.59%
• 1Y: 1,107.98%
• 3Y*: 160.60%
• 5Y*: 62.83%
• 10Y*: 43.96%

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

GLW vs. LITE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GLW Corning Incorporated	130.06%	87.76%	60.64%	-1.23%	-11.56%	5.92%	27.57%	-1.02%	-3.28%	34.63%
LITE Lumentum Holdings Inc.	154.48%	339.06%	60.15%	0.48%	-50.68%	11.57%	19.55%	88.76%	-14.09%	26.52%

Correlation

The correlation between GLW and LITE is 0.54, 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	0.54
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	0.48
Correlation (All Time) Calculated using the full available price history since Aug 5, 2015	0.45

The correlation between GLW and LITE has been stable across timeframes, ranging from 0.45 to 0.54 - a consistent structural relationship.

Fundamentals

Market Cap GLW : $173.21B LITE : $90.24B
EPS GLW : $2.10 LITE : $5.26
PE Ratio GLW : 95.63 LITE : 178.21
PS Ratio GLW : 10.61 LITE : 31.50
PB Ratio GLW : 14.66 LITE : 30.35
Total Revenue (TTM) GLW : $16.32B LITE : $2.49B
Gross Profit (TTM) GLW : $5.93B LITE : $938.50M
EBITDA (TTM) GLW : $3.77B LITE : $470.10M

Return for Risk

GLW vs. LITE — Risk / Return Rank

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

GLW

GLW Risk / Return Rank: 98
GLW Sharpe Ratio Rank: 99
GLW Sortino Ratio Rank: 97
GLW Omega Ratio Rank: 97
GLW Calmar Ratio Rank: 98
GLW Martin Ratio Rank: 99

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.

GLW vs. LITE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Corning Incorporated (GLW) 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.

	GLW	LITE	Difference
Sharpe ratio: Return per unit of total volatility	5.57	13.13	-7.56
Sortino ratio: Return per unit of downside risk	4.94	5.79	-0.85
Omega ratio: Gain probability vs. loss probability	1.71	1.77	-0.07
Calmar ratio: Return relative to maximum drawdown	13.12	39.02	-25.90
Martin ratio: Return relative to average drawdown	44.04	152.77	-108.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLW vs. LITE - Sharpe Ratio Comparison

The current GLW Sharpe Ratio is 5.57, which is lower than the LITE Sharpe Ratio of 13.13. The chart below compares the historical Sharpe Ratios of GLW 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.

Sharpe Ratios by Period

	GLW	LITE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.57	13.13	-7.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.13	1.06	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.78	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.76	-0.49

Drawdowns

GLW vs. LITE - Drawdown Comparison

The maximum GLW drawdown since its inception was -99.02%, which is greater than LITE's maximum drawdown of -66.89%. Use the drawdown chart below to compare losses from any high point for GLW and LITE.

Drawdown Indicators

	GLW	LITE	Difference
Max Drawdown Largest peak-to-trough decline	-99.02%	-66.89%	-32.13%
Max Drawdown (1Y) Largest decline over 1 year	-23.01%	-28.70%	+5.69%
Max Drawdown (3Y) Largest decline over 3 years	-27.57%	-50.63%	+23.06%
Max Drawdown (5Y) Largest decline over 5 years	-34.52%	-66.48%	+31.96%
Max Drawdown (10Y) Largest decline over 10 years	-48.80%	-66.89%	+18.09%
Current Drawdown Current decline from peak	-3.46%	-10.93%	+7.47%
Average Drawdown Average peak-to-trough decline	-50.53%	-23.17%	-27.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.84%	7.32%	-0.48%

Volatility

GLW vs. LITE - Volatility Comparison

The current volatility for Corning Incorporated (GLW) is 25.43%, while Lumentum Holdings Inc. (LITE) has a volatility of 30.62%. This indicates that GLW experiences smaller price fluctuations and is considered to be less risky than LITE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLW	LITE	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.43%	30.62%	-5.19%
Volatility (6M) Calculated over the trailing 6-month period	48.25%	68.91%	-20.66%
Volatility (1Y) Calculated over the trailing 1-year period	54.17%	85.30%	-31.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.19%	59.65%	-24.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.54%	56.46%	-22.92%

Dividends

GLW vs. LITE - Dividend Comparison

GLW's dividend yield for the trailing twelve months is around 0.56%, while LITE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLW Corning Incorporated	0.56%	1.28%	2.36%	3.68%	3.38%	2.58%	2.44%	2.75%	2.38%	1.94%	2.22%	2.63%
LITE Lumentum Holdings Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

GLW vs. LITE - Profitability Comparison

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

GLW - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Corning Incorporated reported a gross profit of 1.53B and revenue of 4.14B. Therefore, the gross margin over that period was 36.9%.

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%.

GLW - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Corning Incorporated reported an operating income of 639.00M and revenue of 4.14B, resulting in an operating margin of 15.4%.

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%.

GLW - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Corning Incorporated reported a net income of 371.00M and revenue of 4.14B, resulting in a net margin of 9.0%.

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 GLW and LITE in my portfolio?

GLW and LITE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GLW or LITE?

LITE has higher volatility (30.62%) compared to GLW (25.43%). In terms of maximum drawdown, GLW dropped -99.02% vs LITE's -66.89%.

Which has better risk-adjusted returns?

LITE currently has the higher Sharpe Ratio (13.13 vs 5.57), 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.