COHU vs ON: Correlation
Cohu, Inc. (COHU) and ON Semiconductor (ON) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COHU and ON?
On 3 years of weekly data the COHU/ON correlation comes out at 0.58, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. The 5-year figure is 0.62, and annualized covariance runs at 1266.5 %².
Among the 24 assets we track against COHU, ON ranks #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months COHU outperformed by 108.8 percentage points (+154.8% for COHU against +46.0% for ON).
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.
COHU vs ON: side by side
| COHU (Cohu, Inc.) | ON (ON Semiconductor) | |
|---|---|---|
| 1-year return | +154.8% | +46.0% |
| 5-year return | +41.3% | +65.2% |
| Volatility (ann.) | 44.8% | 49.2% |
| Beta vs S&P 500 | 1.74 | 1.61 |
| Max drawdown (3Y) | -64.7% | -67.9% |
| Market cap | $2.4B | $29.1B |
| P/E (trailing) | – | 47.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | COHU | ON |
|---|---|---|
| 2022 | -15.9% | -8.2% |
| 2023 | +10.4% | +33.9% |
| 2024 | -24.6% | -24.5% |
| 2025 | -12.8% | -14.1% |
| 2026 | +122.1% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COHU and ON good diversifiers for each other?
Only partially. A correlation of 0.58 means COHU and ON 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 COHU and ON?
The COHU/ON correlation stands at 0.58 on a 3-year window (1 year: 0.53, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is ON a good diversifier for COHU?
Only partially. A correlation of 0.58 means COHU and ON share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cohu-vs-on.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cohu-vs-on/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: COHU correlations · ON correlations
