AMAT vs UCTT: Correlation
How closely do Applied Materials (AMAT) and Ultra Clean Holdings, Inc. (UCTT) 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 UCTT?
Across a 3-year window, the weekly returns of AMAT and UCTT correlate at 0.81, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.86) sits close to the 3-year figure. Stretching to 5 years gives 0.81, with an annualized covariance of 2208.2 %².
Within AMAT's tracked universe of 34 assets, UCTT comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with UCTT ahead by 16.6 points (+195.0% versus +211.6%).
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 UCTT: side by side
| AMAT (Applied Materials) | UCTT (Ultra Clean Holdings, Inc.) | |
|---|---|---|
| 1-year return | +195.0% | +211.6% |
| 5-year return | +269.5% | +57.9% |
| Volatility (ann.) | 43.5% | 62.8% |
| Beta vs S&P 500 | 1.69 | 2.28 |
| Max drawdown (3Y) | -49.9% | -68.2% |
| Market cap | $382.8B | $3.4B |
| P/E (trailing) | 41.3 | – |
| Dividend yield | 0.41% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | AMAT | UCTT |
|---|---|---|
| 2022 | -37.5% | -42.2% |
| 2023 | +68.0% | +3.0% |
| 2024 | +1.1% | +5.3% |
| 2025 | +59.6% | -29.5% |
| 2026 | +88.4% | +195.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMAT and UCTT good diversifiers for each other?
No: a correlation of 0.81 means AMAT and UCTT tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between AMAT and UCTT?
Using weekly returns as of 2026-08-27: 0.81 over 3 years, with 0.86 over the last year and 0.81 over 5 years.
Is UCTT a good diversifier for AMAT?
No: a correlation of 0.81 means AMAT and UCTT tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.81 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-uctt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amat-vs-uctt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMAT correlations · UCTT correlations
