BRBR vs FLEX: Correlation
Measured on weekly returns over the past three years, BellRing Brands, Inc. (BRBR) and Flex Ltd. (FLEX) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRBR and FLEX?
On 3 years of weekly data the BRBR/FLEX correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.48) than the 3-year average (-0.21). The 5-year figure is -0.09, and annualized covariance runs at -547.5 %².
Within BRBR's tracked universe of 20 assets, FLEX comes in at #12 by 3-year correlation. The last year tells two different stories: FLEX led by 189.4 percentage points, -74.8% for BRBR 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.
BRBR vs FLEX: side by side
| BRBR (BellRing Brands, Inc.) | FLEX (Flex Ltd.) | |
|---|---|---|
| 1-year return | -74.8% | +114.6% |
| 5-year return | -68.8% | +716.5% |
| Volatility (ann.) | 51.5% | 50.9% |
| Beta vs S&P 500 | 0.49 | 1.70 |
| Max drawdown (3Y) | -90.0% | -40.0% |
| Market cap | $1.2B | $42.6B |
| P/E (trailing) | 7.6 | 43.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | BRBR | FLEX |
|---|---|---|
| 2022 | -10.1% | +17.1% |
| 2023 | +116.2% | +41.9% |
| 2024 | +35.9% | +67.2% |
| 2025 | -64.5% | +57.4% |
| 2026 | -61.6% | +90.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRBR and FLEX good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between BRBR and FLEX?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.48 over the last year and -0.09 over 5 years.
Is FLEX a good diversifier for BRBR?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 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
$ curl https://www.pairbook.io/api/v1/pairs/brbr-vs-flex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/brbr-vs-flex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BRBR correlations · FLEX correlations
