AMAT vs SOXX: Correlation
How closely do Applied Materials (AMAT) and iShares Semiconductor ETF (SOXX) trade together? Their weekly returns over three years give a correlation of 0.81, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMAT and SOXX?
Over the past 3 years, AMAT and SOXX moved with a correlation of 0.81, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.75 lands near the 3-year figure. Over 5 years the correlation is 0.86, and the annualized covariance of weekly returns is 1244.6 %².
By 3-year correlation, SOXX places #4 of the 34 assets tracked against AMAT. Correlation aside, the last 12 months split them widely, with AMAT ahead by 85.0 points (+195.0% versus +110.0%). The link looks structural: the rolling one-year correlation barely moved, holding between 0.69 and 0.91.
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 SOXX: side by side
| AMAT (Applied Materials) | SOXX (iShares Semiconductor ETF) | |
|---|---|---|
| 1-year return | +195.0% | +110.0% |
| 5-year return | +269.5% | +247.5% |
| Volatility (ann.) | 43.5% | 35.2% |
| Beta vs S&P 500 | 1.69 | 1.93 |
| Max drawdown (3Y) | -49.9% | -41.4% |
| Market cap | $382.8B | – |
| P/E (trailing) | 41.3 | – |
| Dividend yield | 0.41% | 0.29% |
| Expense ratio | – | 0.33% |
| Assets under management | – | $44.7B |
| Sector / category | Information Technology | ETF · Thematic |
On the fund side, SOXX sits in the Technology category at iShares, with $44.7B under management, 30 holdings, a 0.33% expense ratio, a 0.29% trailing dividend yield.
Year-by-year returns
| Year | AMAT | SOXX |
|---|---|---|
| 2022 | -37.5% | -35.1% |
| 2023 | +68.0% | +67.1% |
| 2024 | +1.1% | +12.9% |
| 2025 | +59.6% | +40.7% |
| 2026 | +88.4% | +74.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that SOXX holds AMAT at a 4.76% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are AMAT and SOXX good diversifiers for each other?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between AMAT and SOXX?
As of 2026-08-27, the correlation of weekly returns between AMAT and SOXX is 0.81 over 3 years, 0.75 over 1 year and 0.86 over 5 years.
Is SOXX a good diversifier for AMAT?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.81 mean?
A reading of 0.81 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/amat-vs-soxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amat-vs-soxx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMAT correlations · SOXX correlations
