DIOD vs OLED: Correlation
Measured on weekly returns over the past three years, Diodes Incorporated (DIOD) and Universal Display Corporation (OLED) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIOD and OLED?
Across a 3-year window, the weekly returns of DIOD and OLED correlate at 0.61, strong. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Stretching to 5 years gives 0.60, with an annualized covariance of 1242.2 %².
By 3-year correlation, OLED places #12 of the 25 assets tracked against DIOD. Their recent paths diverged sharply: over the last 12 months DIOD outperformed by 100.5 percentage points (+61.7% for DIOD against -38.8% for OLED).
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 OLED: side by side
| DIOD (Diodes Incorporated) | OLED (Universal Display Corporation) | |
|---|---|---|
| 1-year return | +61.7% | -38.8% |
| 5-year return | -7.4% | -57.1% |
| Volatility (ann.) | 50.3% | 40.6% |
| Beta vs S&P 500 | 1.84 | 1.51 |
| Max drawdown (3Y) | -60.1% | -66.1% |
| Market cap | $4.2B | $3.9B |
| P/E (trailing) | 48.6 | 20.5 |
| Dividend yield | 0.00% | 2.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DIOD | OLED |
|---|---|---|
| 2022 | -30.7% | -33.9% |
| 2023 | +5.8% | +78.6% |
| 2024 | -23.4% | -22.9% |
| 2025 | -20.0% | -19.1% |
| 2026 | +84.2% | -26.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIOD and OLED good diversifiers for each other?
Only partially. A correlation of 0.61 means DIOD and OLED 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 DIOD and OLED?
As of 2026-08-27, the correlation of weekly returns between DIOD and OLED is 0.61 over 3 years, 0.59 over 1 year and 0.60 over 5 years.
Is OLED a good diversifier for DIOD?
Only partially. A correlation of 0.61 means DIOD and OLED share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.61 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.
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Related comparisons
Hubs: DIOD correlations · OLED correlations
