AMAT vs VECO: Correlation
Measured on weekly returns over the past three years, Applied Materials (AMAT) and Veeco Instruments Inc. (VECO) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMAT and VECO?
Over the past 3 years, AMAT and VECO moved with a correlation of 0.74, which is strong. The relationship has been stable: the 1-year correlation (0.65) sits close to the 3-year figure. Over 5 years the correlation is 0.73, and the annualized covariance of weekly returns is 1576.0 %².
Within AMAT's tracked universe of 34 assets, VECO comes in at #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AMAT outperformed by 99.4 percentage points (+195.0% for AMAT against +95.6% for VECO).
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 VECO: side by side
| AMAT (Applied Materials) | VECO (Veeco Instruments Inc.) | |
|---|---|---|
| 1-year return | +195.0% | +95.6% |
| 5-year return | +269.5% | +105.2% |
| Volatility (ann.) | 43.5% | 49.1% |
| Beta vs S&P 500 | 1.69 | 1.57 |
| Max drawdown (3Y) | -49.9% | -64.2% |
| Market cap | $382.8B | $2.9B |
| P/E (trailing) | 41.3 | 120.4 |
| Dividend yield | 0.41% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | AMAT | VECO |
|---|---|---|
| 2022 | -37.5% | -34.7% |
| 2023 | +68.0% | +67.0% |
| 2024 | +1.1% | -13.6% |
| 2025 | +59.6% | +6.6% |
| 2026 | +88.4% | +64.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMAT and VECO good diversifiers for each other?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AMAT and VECO?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.65 over the last year and 0.73 over 5 years.
Is VECO a good diversifier for AMAT?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 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/amat-vs-veco.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amat-vs-veco/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMAT correlations · VECO correlations
