AKAM vs FLEX: Correlation
Measured on weekly returns over the past three years, Akamai Technologies (AKAM) and Flex Ltd. (FLEX) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AKAM and FLEX?
Across a 3-year window, the weekly returns of AKAM and FLEX correlate at 0.40, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.52 versus 0.40 over 3 years. Stretching to 5 years gives 0.41, with an annualized covariance of 923.6 %².
By 3-year correlation, FLEX places #10 of the 30 assets tracked against AKAM. The last year tells two different stories: FLEX led by 72.5 percentage points, +42.1% for AKAM against +114.6% for FLEX. This link changes with the market regime, having swung between -0.15 and 0.55 on a rolling one-year basis.
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.
AKAM vs FLEX: side by side
| AKAM (Akamai Technologies) | FLEX (Flex Ltd.) | |
|---|---|---|
| 1-year return | +42.1% | +114.6% |
| 5-year return | -1.6% | +716.5% |
| Volatility (ann.) | 45.7% | 50.9% |
| Beta vs S&P 500 | 0.58 | 1.70 |
| Max drawdown (3Y) | -46.8% | -40.0% |
| Market cap | $16.0B | $42.6B |
| P/E (trailing) | 40.3 | 43.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | AKAM | FLEX |
|---|---|---|
| 2022 | -28.0% | +17.1% |
| 2023 | +40.4% | +41.9% |
| 2024 | -19.2% | +67.2% |
| 2025 | -8.8% | +57.4% |
| 2026 | +27.5% | +90.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AKAM and FLEX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AKAM and FLEX?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.52 over the last year and 0.41 over 5 years.
Is FLEX a good diversifier for AKAM?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/akam-vs-flex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/akam-vs-flex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AKAM correlations · FLEX correlations
