AMAT vs ICHR: Correlation
Applied Materials (AMAT) and Ichor Holdings (ICHR) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMAT and ICHR?
On 3 years of weekly data the AMAT/ICHR correlation comes out at 0.68, strong. Recent behaviour matches the longer record: 0.73 over 1 year against 0.68 over 3. The 5-year figure is 0.70, and annualized covariance runs at 2204.0 %².
Within AMAT's tracked universe of 34 assets, ICHR comes in at #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ICHR ahead by 44.8 points (+195.0% versus +239.8%). Note the risk asymmetry: ICHR runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AMAT vs ICHR: side by side
| AMAT (Applied Materials) | ICHR (Ichor Holdings) | |
|---|---|---|
| 1-year return | +195.0% | +239.8% |
| 5-year return | +269.5% | +32.8% |
| Volatility (ann.) | 43.5% | 75.0% |
| Beta vs S&P 500 | 1.69 | 2.32 |
| Max drawdown (3Y) | -49.9% | -69.1% |
| Market cap | $382.8B | $2.2B |
| P/E (trailing) | 41.3 | – |
| Dividend yield | 0.41% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | AMAT | ICHR |
|---|---|---|
| 2022 | -37.5% | -41.7% |
| 2023 | +68.0% | +25.4% |
| 2024 | +1.1% | -4.2% |
| 2025 | +59.6% | -42.8% |
| 2026 | +88.4% | +220.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMAT and ICHR good diversifiers for each other?
To a limited degree. At 0.68 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 AMAT and ICHR?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.73 over the last year and 0.70 over 5 years.
Is ICHR a good diversifier for AMAT?
To a limited degree. At 0.68 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 0.68 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/amat-vs-ichr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amat-vs-ichr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMAT correlations · ICHR correlations
