AVT vs MCHP: Correlation
Avnet, Inc. (AVT) and Microchip Technology (MCHP) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVT and MCHP?
Across a 3-year window, the weekly returns of AVT and MCHP correlate at 0.66, strong. Little has changed lately, as the 1-year reading of 0.57 lands near the 3-year figure. Stretching to 5 years gives 0.65, with an annualized covariance of 861.6 %².
Among the 16 assets we track against AVT, MCHP ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AVT outperformed by 54.1 percentage points (+70.3% for AVT against +16.2% for MCHP). One caveat on sizing: MCHP is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AVT vs MCHP: side by side
| AVT (Avnet, Inc.) | MCHP (Microchip Technology) | |
|---|---|---|
| 1-year return | +70.3% | +16.2% |
| 5-year return | +153.5% | +5.9% |
| Volatility (ann.) | 28.1% | 46.7% |
| Beta vs S&P 500 | 1.05 | 1.97 |
| Max drawdown (3Y) | -27.1% | -63.8% |
| Market cap | $7.5B | $41.0B |
| P/E (trailing) | 22.5 | 109.4 |
| Dividend yield | 1.55% | 2.46% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | AVT | MCHP |
|---|---|---|
| 2022 | +3.4% | -18.0% |
| 2023 | +24.4% | +30.9% |
| 2024 | +6.4% | -35.0% |
| 2025 | -5.6% | +14.6% |
| 2026 | +92.1% | +20.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVT and MCHP good diversifiers for each other?
Only partially. A correlation of 0.66 means AVT and MCHP 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 AVT and MCHP?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.57 over the last year and 0.65 over 5 years.
Is MCHP a good diversifier for AVT?
Only partially. A correlation of 0.66 means AVT and MCHP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 mean?
A reading of 0.66 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
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Related comparisons
Hubs: AVT correlations · MCHP correlations
