CGNX vs MKSI: Correlation
Measured on weekly returns over the past three years, Cognex Corporation (CGNX) and MKS Inc. (MKSI) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGNX and MKSI?
Across a 3-year window, the weekly returns of CGNX and MKSI correlate at 0.57, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.57 over 3. Stretching to 5 years gives 0.57, with an annualized covariance of 1308.1 %².
Among the 16 assets we track against CGNX, MKSI ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MKSI ahead by 114.3 points (+43.2% versus +157.5%).
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.
CGNX vs MKSI: side by side
| CGNX (Cognex Corporation) | MKSI (MKS Inc.) | |
|---|---|---|
| 1-year return | +43.2% | +157.5% |
| 5-year return | -27.4% | +88.2% |
| Volatility (ann.) | 45.5% | 50.8% |
| Beta vs S&P 500 | 1.27 | 2.39 |
| Max drawdown (3Y) | -55.7% | -59.1% |
| Market cap | $10.6B | $18.3B |
| P/E (trailing) | 59.4 | 43.3 |
| Dividend yield | 0.54% | 0.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGNX | MKSI |
|---|---|---|
| 2022 | -39.1% | -51.0% |
| 2023 | -10.8% | +22.6% |
| 2024 | -13.4% | +2.2% |
| 2025 | +1.2% | +54.4% |
| 2026 | +75.8% | +70.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGNX and MKSI good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CGNX and MKSI?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.51 over the last year and 0.57 over 5 years.
Is MKSI a good diversifier for CGNX?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 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/cgnx-vs-mksi.json
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[](https://www.pairbook.io/pair/cgnx-vs-mksi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CGNX correlations · MKSI correlations
