ALGM vs NXPI: Correlation
How closely do Allegro MicroSystems, Inc. (ALGM) and NXP Semiconductors (NXPI) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGM and NXPI?
Across a 3-year window, the weekly returns of ALGM and NXPI correlate at 0.68, strong. Little has changed lately, as the 1-year reading of 0.65 lands near the 3-year figure. Stretching to 5 years gives 0.69, with an annualized covariance of 1541.9 %².
In ALGM's tracked universe of 11 assets, NXPI sits right near the top at #2. Correlation aside, the last 12 months split them widely, with ALGM ahead by 22.8 points (+19.5% versus -3.3%).
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.
ALGM vs NXPI: side by side
| ALGM (Allegro MicroSystems, Inc.) | NXPI (NXP Semiconductors) | |
|---|---|---|
| 1-year return | +19.5% | -3.3% |
| 5-year return | +23.1% | +8.6% |
| Volatility (ann.) | 56.9% | 39.9% |
| Beta vs S&P 500 | 1.83 | 1.53 |
| Max drawdown (3Y) | -57.2% | -46.5% |
| Market cap | $7.0B | $57.0B |
| P/E (trailing) | 537.0 | 19.3 |
| Dividend yield | 0.00% | 1.82% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | ALGM | NXPI |
|---|---|---|
| 2022 | -17.0% | -29.2% |
| 2023 | +0.8% | +48.4% |
| 2024 | -27.8% | -8.0% |
| 2025 | +20.7% | +6.4% |
| 2026 | +42.5% | +4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGM and NXPI good diversifiers for each other?
Only partially. A correlation of 0.68 means ALGM and NXPI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ALGM and NXPI?
The ALGM/NXPI correlation stands at 0.68 on a 3-year window (1 year: 0.65, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is NXPI a good diversifier for ALGM?
Only partially. A correlation of 0.68 means ALGM and NXPI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
On the −1 to +1 scale, 0.68 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/algm-vs-nxpi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/algm-vs-nxpi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALGM correlations · NXPI correlations
