AMD vs FLEX: Correlation
Measured on weekly returns over the past three years, Advanced Micro Devices (AMD) and Flex Ltd. (FLEX) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMD and FLEX?
Across a 3-year window, the weekly returns of AMD and FLEX correlate at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. Stretching to 5 years gives 0.51, with an annualized covariance of 1428.4 %².
By 3-year correlation, FLEX places #20 of the 33 assets tracked against AMD. Their recent paths diverged sharply: over the last 12 months AMD outperformed by 70.6 percentage points (+185.2% for AMD against +114.6% for FLEX). The rolling one-year correlation moved between 0.20 and 0.63 over the past three years, a moderate range.
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.
AMD vs FLEX: side by side
| AMD (Advanced Micro Devices) | FLEX (Flex Ltd.) | |
|---|---|---|
| 1-year return | +185.2% | +114.6% |
| 5-year return | +328.2% | +716.5% |
| Volatility (ann.) | 55.7% | 50.9% |
| Beta vs S&P 500 | 2.04 | 1.70 |
| Max drawdown (3Y) | -63.0% | -40.0% |
| Market cap | $778.2B | $42.6B |
| P/E (trailing) | 121.9 | 43.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | AMD | FLEX |
|---|---|---|
| 2022 | -55.0% | +17.1% |
| 2023 | +127.6% | +41.9% |
| 2024 | -18.1% | +67.2% |
| 2025 | +77.3% | +57.4% |
| 2026 | +122.6% | +90.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMD and FLEX good diversifiers for each other?
To a limited degree. At 0.50 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 AMD and FLEX?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.55 over the last year and 0.51 over 5 years.
Is FLEX a good diversifier for AMD?
To a limited degree. At 0.50 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 0.50 mean?
On the −1 to +1 scale, 0.50 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/amd-vs-flex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amd-vs-flex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMD correlations · FLEX correlations
