EMBC vs FLEX: Correlation
How closely do Embecta Corp. (EMBC) and Flex Ltd. (FLEX) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMBC and FLEX?
Across a 3-year window, the weekly returns of EMBC and FLEX correlate at -0.28, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.59 versus -0.28 over 3 years. Stretching to 5 years gives -0.23, with an annualized covariance of -1029.8 %².
FLEX is close to the least connected end of EMBC's tracked universe, ranking #13 of 15. Correlation aside, the last 12 months split them widely, with FLEX ahead by 179.1 points (-64.5% versus +114.6%).
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.
EMBC vs FLEX: side by side
| EMBC (Embecta Corp.) | FLEX (Flex Ltd.) | |
|---|---|---|
| 1-year return | -64.5% | +114.6% |
| 5-year return | -87.8% | +716.5% |
| Volatility (ann.) | 72.4% | 50.9% |
| Beta vs S&P 500 | 0.91 | 1.70 |
| Max drawdown (3Y) | -85.3% | -40.0% |
| Market cap | $0.3B | $42.6B |
| P/E (trailing) | 3.4 | 43.2 |
| Dividend yield | 9.29% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | EMBC | FLEX |
|---|---|---|
| 2022 | – | +17.1% |
| 2023 | -23.1% | +41.9% |
| 2024 | +13.6% | +67.2% |
| 2025 | -39.6% | +57.4% |
| 2026 | -57.4% | +90.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMBC and FLEX good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EMBC and FLEX?
The EMBC/FLEX correlation stands at -0.28 on a 3-year window (1 year: -0.59, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is FLEX a good diversifier for EMBC?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 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/embc-vs-flex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/embc-vs-flex/)
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Related comparisons
Hubs: EMBC correlations · FLEX correlations
