RLAY vs. LITE

Last updated Jun 23, 2026

RLAY (Relay Therapeutics, Inc.) and LITE (Lumentum Holdings Inc.) are both stocks. RLAY operates in Biotechnology (Healthcare), while LITE operates in Communication Equipment (Technology). Over the past 5 years, RLAY returned -12.73%/yr vs 61.67%/yr for LITE. At a 0.29 correlation, their price movements are largely independent.

Performance

RLAY vs. LITE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Relay Therapeutics, Inc. (RLAY) 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, RLAY achieves a 104.26% return, which is significantly lower than LITE's 142.53% return.

RLAY

• 1D: 8.82%
• 1M: 27.72%
• YTD: 104.26%
• 6M: 100.70%
• 1Y: 441.69%
• 3Y*: 13.34%
• 5Y*: -12.73%
• 10Y*: —

LITE

• 1D: 5.17%
• 1M: -5.59%
• YTD: 142.53%
• 6M: 129.28%
• 1Y: 897.02%
• 3Y*: 152.86%
• 5Y*: 61.67%
• 10Y*: 43.45%

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

RLAY vs. LITE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
RLAY Relay Therapeutics, Inc.	104.26%	105.34%	-62.58%	-26.31%	-51.35%	-26.11%	18.74%
LITE Lumentum Holdings Inc.	142.53%	339.06%	60.15%	0.48%	-50.68%	11.57%	14.80%

Correlation

The correlation between RLAY and LITE is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jul 16, 2020	0.29

The correlation between RLAY and LITE shifts across timeframes, from 0.19 (1 year) to 0.31 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap RLAY : $3.11B LITE : $86.00B
EPS RLAY : -$1.57 LITE : $5.26
PS Ratio RLAY : 281.24 LITE : 30.02
PB Ratio RLAY : 4.84 LITE : 28.92
Total Revenue (TTM) RLAY : $10.68M LITE : $2.49B
Gross Profit (TTM) RLAY : $6.33M LITE : $938.50M
EBITDA (TTM) RLAY : -$285.68M LITE : $470.10M

Return for Risk

RLAY vs. LITE — Risk / Return Rank

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

RLAY

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

LITE

LITE Risk / Return Rank: 99
LITE Sharpe Ratio Rank: 100
LITE Sortino Ratio Rank: 98
LITE Omega Ratio Rank: 97
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.

RLAY vs. LITE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Relay Therapeutics, Inc. (RLAY) 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.

	RLAY	LITE	Difference
Sharpe ratio: Return per unit of total volatility	6.36	10.42	-4.05
Sortino ratio: Return per unit of downside risk	5.22	5.21	+0.01
Omega ratio: Gain probability vs. loss probability	1.62	1.68	-0.06
Calmar ratio: Return relative to maximum drawdown	15.82	31.57	-15.75
Martin ratio: Return relative to average drawdown	45.15	111.29	-66.15

RLAY vs. LITE - Sharpe Ratio Comparison

The current RLAY Sharpe Ratio is 6.36, which is lower than the LITE Sharpe Ratio of 10.42. The chart below compares the historical Sharpe Ratios of RLAY 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

RLAY vs. LITE - Drawdown Comparison

The maximum RLAY drawdown since its inception was -96.75%, which is greater than LITE's maximum drawdown of -66.89%. Use the drawdown chart below to compare losses from any high point for RLAY and LITE.

Drawdown Indicators

	RLAY	LITE	Difference
Max Drawdown Largest peak-to-trough decline	-96.75%	-66.89%	-29.86%
Max Drawdown (1Y) Largest decline over 1 year	-28.15%	-28.70%	+0.55%
Max Drawdown (3Y) Largest decline over 3 years	-84.78%	-50.63%	-34.15%
Max Drawdown (5Y) Largest decline over 5 years	-94.74%	-66.48%	-28.26%
Max Drawdown (10Y) Largest decline over 10 years	—	-66.89%	—
Current Drawdown Current decline from peak	-71.92%	-15.11%	-56.81%
Average Drawdown Average peak-to-trough decline	-69.15%	-23.56%	-45.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.85%	8.13%	+1.72%

Volatility

RLAY vs. LITE - Volatility Comparison

The current volatility for Relay Therapeutics, Inc. (RLAY) is 19.66%, while Lumentum Holdings Inc. (LITE) has a volatility of 28.51%. This indicates that RLAY 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

	RLAY	LITE	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.66%	28.51%	-8.85%
Volatility (6M) Calculated over the trailing 6-month period	48.45%	68.81%	-20.36%
Volatility (1Y) Calculated over the trailing 1-year period	70.13%	87.18%	-17.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	78.47%	60.18%	+18.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	77.71%	56.72%	+20.99%

Dividends

RLAY vs. LITE - Dividend Comparison

Neither RLAY nor LITE has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both RLAY and LITE in my portfolio?

RLAY and LITE have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RLAY or LITE?

LITE has higher volatility (28.51%) compared to RLAY (19.66%). In terms of maximum drawdown, RLAY dropped -96.75% vs LITE's -66.89%.

Which has better risk-adjusted returns?

LITE currently has the higher Sharpe Ratio (10.42 vs 6.36), 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.