APT vs FLEX: Correlation
Alpha Pro Tech, Ltd. (APT) and Flex Ltd. (FLEX) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APT and FLEX?
Across a 3-year window, the weekly returns of APT and FLEX correlate at 0.50, moderate. Recent behaviour matches the longer record: 0.60 over 1 year against 0.50 over 3. Stretching to 5 years gives 0.39, with an annualized covariance of 1067.9 %².
In APT's tracked universe of 12 assets, FLEX sits right near the top at #1. The last year tells two different stories: FLEX led by 101.8 percentage points, +12.8% for APT against +114.6% for FLEX.
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.
APT vs FLEX: side by side
| APT (Alpha Pro Tech, Ltd.) | FLEX (Flex Ltd.) | |
|---|---|---|
| 1-year return | +12.8% | +114.6% |
| 5-year return | -33.5% | +716.5% |
| Volatility (ann.) | 42.0% | 50.9% |
| Beta vs S&P 500 | 0.65 | 1.70 |
| Max drawdown (3Y) | -39.0% | -40.0% |
| Market cap | $0.1B | $42.6B |
| P/E (trailing) | 14.0 | 43.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | APT | FLEX |
|---|---|---|
| 2022 | -32.7% | +17.1% |
| 2023 | +31.6% | +41.9% |
| 2024 | +0.0% | +67.2% |
| 2025 | -16.1% | +57.4% |
| 2026 | +23.2% | +90.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APT and FLEX good diversifiers for each other?
Only partially. A correlation of 0.50 means APT and FLEX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between APT and FLEX?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.60 over the last year and 0.39 over 5 years.
Is FLEX a good diversifier for APT?
Only partially. A correlation of 0.50 means APT and FLEX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
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/apt-vs-flex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/apt-vs-flex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APT correlations · FLEX correlations
