CAMT vs ONTO: Correlation
How closely do Camtek Ltd. (CAMT) and Onto Innovation Inc. (ONTO) trade together? Their weekly returns over three years give a correlation of 0.69, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAMT and ONTO?
Over the past 3 years, CAMT and ONTO moved with a correlation of 0.69, which is strong. Little has changed lately, as the 1-year reading of 0.72 lands near the 3-year figure. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 2343.3 %².
ONTO is one of the assets that tracks CAMT most closely: it ranks #2 out of the 10 assets we track against CAMT. Correlation aside, the last 12 months split them widely, with ONTO ahead by 104.4 points (+66.6% versus +171.0%).
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.
CAMT vs ONTO: side by side
| CAMT (Camtek Ltd.) | ONTO (Onto Innovation Inc.) | |
|---|---|---|
| 1-year return | +66.6% | +171.0% |
| 5-year return | +253.0% | +288.7% |
| Volatility (ann.) | 57.7% | 58.7% |
| Beta vs S&P 500 | 1.95 | 2.32 |
| Max drawdown (3Y) | -63.2% | -62.8% |
| Market cap | $6.8B | $17.9B |
| P/E (trailing) | 193.1 | 110.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAMT | ONTO |
|---|---|---|
| 2022 | -52.3% | -32.7% |
| 2023 | +215.9% | +124.6% |
| 2024 | +18.3% | +9.0% |
| 2025 | +31.7% | -5.3% |
| 2026 | +36.2% | +85.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAMT and ONTO good diversifiers for each other?
Only partially. A correlation of 0.69 means CAMT and ONTO 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 CAMT and ONTO?
As of 2026-08-27, the correlation of weekly returns between CAMT and ONTO is 0.69 over 3 years, 0.72 over 1 year and 0.69 over 5 years.
Is ONTO a good diversifier for CAMT?
Only partially. A correlation of 0.69 means CAMT and ONTO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.69 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/camt-vs-onto.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/camt-vs-onto/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CAMT correlations · ONTO correlations
