COHR vs MPWR: Correlation
How closely do Coherent Corp. (COHR) and Monolithic Power Systems (MPWR) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COHR and MPWR?
Across a 3-year window, the weekly returns of COHR and MPWR correlate at 0.57, moderate. The past 12 months show a weaker link (0.32) than the 3-year average (0.57). Stretching to 5 years gives 0.58, with an annualized covariance of 1785.0 %².
Within COHR's tracked universe of 41 assets, MPWR comes in at #18 by 3-year correlation. The last year tells two different stories: COHR led by 173.2 percentage points, +225.6% for COHR against +52.4% for MPWR. The relationship is regime-dependent: the rolling one-year correlation swung between 0.27 and 0.79 over the past three years, so this pair behaves very differently depending on the market environment.
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.
COHR vs MPWR: side by side
| COHR (Coherent Corp.) | MPWR (Monolithic Power Systems) | |
|---|---|---|
| 1-year return | +225.6% | +52.4% |
| 5-year return | +368.6% | +170.3% |
| Volatility (ann.) | 65.0% | 48.1% |
| Beta vs S&P 500 | 2.76 | 2.22 |
| Max drawdown (3Y) | -54.8% | -51.6% |
| Market cap | $57.8B | $64.4B |
| P/E (trailing) | 71.4 | 79.4 |
| Dividend yield | 0.00% | 0.55% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | COHR | MPWR |
|---|---|---|
| 2022 | -48.6% | -27.8% |
| 2023 | +24.0% | +79.8% |
| 2024 | +117.6% | -5.6% |
| 2025 | +94.8% | +54.5% |
| 2026 | +60.0% | +45.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COHR and MPWR good diversifiers for each other?
To a limited degree. At 0.57 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 COHR and MPWR?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.32 over the last year and 0.58 over 5 years.
Is MPWR a good diversifier for COHR?
To a limited degree. At 0.57 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 0.57 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/cohr-vs-mpwr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cohr-vs-mpwr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: COHR correlations · MPWR correlations
