DIOD vs MCHP: Correlation
Measured on weekly returns over the past three years, Diodes Incorporated (DIOD) and Microchip Technology (MCHP) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIOD and MCHP?
Across a 3-year window, the weekly returns of DIOD and MCHP correlate at 0.76, strong. Little has changed lately, as the 1-year reading of 0.78 lands near the 3-year figure. Stretching to 5 years gives 0.78, with an annualized covariance of 1789.0 %².
Few assets follow DIOD as closely as MCHP, which ranks #1 of 25 tracked partners. Their recent paths diverged sharply: over the last 12 months DIOD outperformed by 45.5 percentage points (+61.7% for DIOD against +16.2% for MCHP).
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.
DIOD vs MCHP: side by side
| DIOD (Diodes Incorporated) | MCHP (Microchip Technology) | |
|---|---|---|
| 1-year return | +61.7% | +16.2% |
| 5-year return | -7.4% | +5.9% |
| Volatility (ann.) | 50.3% | 46.7% |
| Beta vs S&P 500 | 1.84 | 1.97 |
| Max drawdown (3Y) | -60.1% | -63.8% |
| Market cap | $4.2B | $41.0B |
| P/E (trailing) | 48.6 | 109.4 |
| Dividend yield | 0.00% | 2.46% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | DIOD | MCHP |
|---|---|---|
| 2022 | -30.7% | -18.0% |
| 2023 | +5.8% | +30.9% |
| 2024 | -23.4% | -35.0% |
| 2025 | -20.0% | +14.6% |
| 2026 | +84.2% | +20.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIOD and MCHP good diversifiers for each other?
To a limited degree. At 0.76 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 DIOD and MCHP?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.78 over the last year and 0.78 over 5 years.
Is MCHP a good diversifier for DIOD?
To a limited degree. At 0.76 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 0.76 mean?
On the −1 to +1 scale, 0.76 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/diod-vs-mchp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/diod-vs-mchp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DIOD correlations · MCHP correlations
