ADI vs AMAT: Correlation
Measured on weekly returns over the past three years, Analog Devices (ADI) and Applied Materials (AMAT) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADI and AMAT?
Across a 3-year window, the weekly returns of ADI and AMAT correlate at 0.63, strong. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 895.0 %².
By 3-year correlation, AMAT places #22 of the 51 assets tracked against ADI. Correlation aside, the last 12 months split them widely, with AMAT ahead by 146.4 points (+48.6% versus +195.0%). The rolling one-year correlation stayed in a tight band between 0.51 and 0.75 over the past three years, which points to a structural rather than episodic relationship.
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.
ADI vs AMAT: side by side
| ADI (Analog Devices) | AMAT (Applied Materials) | |
|---|---|---|
| 1-year return | +48.6% | +195.0% |
| 5-year return | +143.1% | +269.5% |
| Volatility (ann.) | 32.6% | 43.5% |
| Beta vs S&P 500 | 1.56 | 1.69 |
| Max drawdown (3Y) | -32.2% | -49.9% |
| Market cap | $181.5B | $382.8B |
| P/E (trailing) | 44.6 | 41.3 |
| Dividend yield | 1.15% | 0.41% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | ADI | AMAT |
|---|---|---|
| 2022 | -4.9% | -37.5% |
| 2023 | +23.4% | +68.0% |
| 2024 | +8.8% | +1.1% |
| 2025 | +29.8% | +59.6% |
| 2026 | +38.9% | +88.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADI and AMAT good diversifiers for each other?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ADI and AMAT?
The ADI/AMAT correlation stands at 0.63 on a 3-year window (1 year: 0.61, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is AMAT a good diversifier for ADI?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.63 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/adi-vs-amat.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adi-vs-amat/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ADI correlations · AMAT correlations
