DIOD vs ON: Correlation
Diodes Incorporated (DIOD) and ON Semiconductor (ON) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIOD and ON?
Across a 3-year window, the weekly returns of DIOD and ON correlate at 0.62, strong. Little has changed lately, as the 1-year reading of 0.62 lands near the 3-year figure. Stretching to 5 years gives 0.68, with an annualized covariance of 1542.0 %².
Within DIOD's tracked universe of 25 assets, ON comes in at #11 by 3-year correlation. The last year tells two different stories: DIOD led by 15.7 percentage points, +61.7% for DIOD 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.
DIOD vs ON: side by side
| DIOD (Diodes Incorporated) | ON (ON Semiconductor) | |
|---|---|---|
| 1-year return | +61.7% | +46.0% |
| 5-year return | -7.4% | +65.2% |
| Volatility (ann.) | 50.3% | 49.2% |
| Beta vs S&P 500 | 1.84 | 1.61 |
| Max drawdown (3Y) | -60.1% | -67.9% |
| Market cap | $4.2B | $29.1B |
| P/E (trailing) | 48.6 | 47.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | DIOD | ON |
|---|---|---|
| 2022 | -30.7% | -8.2% |
| 2023 | +5.8% | +33.9% |
| 2024 | -23.4% | -24.5% |
| 2025 | -20.0% | -14.1% |
| 2026 | +84.2% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIOD and ON good diversifiers for each other?
To a limited degree. At 0.62 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 ON?
As of 2026-08-27, the correlation of weekly returns between DIOD and ON is 0.62 over 3 years, 0.62 over 1 year and 0.68 over 5 years.
Is ON a good diversifier for DIOD?
To a limited degree. At 0.62 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 0.62 mean?
A reading of 0.62 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/diod-vs-on.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/diod-vs-on/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DIOD correlations · ON correlations
