ALMS vs FLEX: Correlation
Measured on weekly returns over the past three years, Alumis Inc. (ALMS) and Flex Ltd. (FLEX) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALMS and FLEX?
Over the past 3 years, ALMS and FLEX moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.12 over 1 year against -0.22 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1630.2 %².
Within ALMS's tracked universe of 92 assets, FLEX comes in at #48 by 3-year correlation. The last year tells two different stories: ALMS led by 257.1 percentage points, +371.7% for ALMS against +114.6% for FLEX. Risk is not evenly split, since ALMS carries 2.6 times the volatility of the other side.
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.
ALMS vs FLEX: side by side
| ALMS (Alumis Inc.) | FLEX (Flex Ltd.) | |
|---|---|---|
| 1-year return | +371.7% | +114.6% |
| 5-year return | n/a | +716.5% |
| Volatility (ann.) | 130.0% | 50.9% |
| Beta vs S&P 500 | -1.50 | 1.70 |
| Max drawdown (3Y) | -78.9% | -40.0% |
| Market cap | $3.0B | $42.6B |
| P/E (trailing) | – | 43.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | ALMS | FLEX |
|---|---|---|
| 2022 | – | +17.1% |
| 2023 | – | +41.9% |
| 2024 | – | +67.2% |
| 2025 | +24.2% | +57.4% |
| 2026 | +137.8% | +90.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALMS and FLEX good diversifiers for each other?
Yes. With a correlation of -0.22, ALMS and FLEX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALMS and FLEX?
The ALMS/FLEX correlation stands at -0.22 on a 3-year window (1 year: -0.12, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is FLEX a good diversifier for ALMS?
Yes. With a correlation of -0.22, ALMS and FLEX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 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/alms-vs-flex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alms-vs-flex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALMS correlations · FLEX correlations
