ACLS vs VECO: Correlation
Axcelis Technologies, Inc. (ACLS) and Veeco Instruments Inc. (VECO) show a very strong relationship: their 3-year correlation of weekly returns is 0.85.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACLS and VECO?
On 3 years of weekly data the ACLS/VECO correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.94) sits close to the 3-year figure. The 5-year figure is 0.78, and annualized covariance runs at 2165.8 %².
VECO is one of the assets that tracks ACLS most closely: it ranks #1 out of the 11 assets we track against ACLS. Their recent paths diverged sharply: over the last 12 months VECO outperformed by 46.2 percentage points (+49.4% for ACLS against +95.6% for VECO).
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.
ACLS vs VECO: side by side
| ACLS (Axcelis Technologies, Inc.) | VECO (Veeco Instruments Inc.) | |
|---|---|---|
| 1-year return | +49.4% | +95.6% |
| 5-year return | +140.5% | +105.2% |
| Volatility (ann.) | 51.6% | 49.1% |
| Beta vs S&P 500 | 1.57 | 1.57 |
| Max drawdown (3Y) | -78.0% | -64.2% |
| Market cap | $3.8B | $2.9B |
| P/E (trailing) | 40.4 | 120.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACLS | VECO |
|---|---|---|
| 2022 | +6.4% | -34.7% |
| 2023 | +63.4% | +67.0% |
| 2024 | -46.1% | -13.6% |
| 2025 | +15.0% | +6.6% |
| 2026 | +52.4% | +64.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACLS and VECO good diversifiers for each other?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ACLS and VECO?
The ACLS/VECO correlation stands at 0.85 on a 3-year window (1 year: 0.94, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is VECO a good diversifier for ACLS?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acls-vs-veco.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/acls-vs-veco/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ACLS correlations · VECO correlations
