CLFD vs FLEX: Correlation
Clearfield, Inc. (CLFD) and Flex Ltd. (FLEX) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLFD and FLEX?
Across a 3-year window, the weekly returns of CLFD and FLEX correlate at 0.54, moderate. The past 12 months show a tighter link (0.72) than the 3-year average (0.54). Stretching to 5 years gives 0.46, with an annualized covariance of 1353.6 %².
Few assets follow CLFD as closely as FLEX, which ranks #1 of 12 tracked partners. Correlation aside, the last 12 months split them widely, with FLEX ahead by 123.1 points (-8.5% versus +114.6%).
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.
CLFD vs FLEX: side by side
| CLFD (Clearfield, Inc.) | FLEX (Flex Ltd.) | |
|---|---|---|
| 1-year return | -8.5% | +114.6% |
| 5-year return | -35.2% | +716.5% |
| Volatility (ann.) | 49.0% | 50.9% |
| Beta vs S&P 500 | 1.34 | 1.70 |
| Max drawdown (3Y) | -48.0% | -40.0% |
| Market cap | $0.4B | $42.6B |
| P/E (trailing) | 103.3 | 43.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | CLFD | FLEX |
|---|---|---|
| 2022 | +11.5% | +17.1% |
| 2023 | -69.1% | +41.9% |
| 2024 | +6.6% | +67.2% |
| 2025 | -6.0% | +57.4% |
| 2026 | +2.8% | +90.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLFD and FLEX good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CLFD and FLEX?
As of 2026-08-27, the correlation of weekly returns between CLFD and FLEX is 0.54 over 3 years, 0.72 over 1 year and 0.46 over 5 years.
Is FLEX a good diversifier for CLFD?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 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/clfd-vs-flex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/clfd-vs-flex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CLFD correlations · FLEX correlations
