ESI vs UCTT: Correlation
How closely do Element Solutions Inc. (ESI) and Ultra Clean Holdings, Inc. (UCTT) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESI and UCTT?
Over the past 3 years, ESI and UCTT moved with a correlation of 0.66, which is strong. Recent behaviour matches the longer record: 0.72 over 1 year against 0.66 over 3. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 1359.5 %².
Within ESI's tracked universe of 18 assets, UCTT comes in at #5 by 3-year correlation. The last year tells two different stories: UCTT led by 168.3 percentage points, +43.3% for ESI against +211.6% for UCTT. Note the risk asymmetry: UCTT runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ESI vs UCTT: side by side
| ESI (Element Solutions Inc.) | UCTT (Ultra Clean Holdings, Inc.) | |
|---|---|---|
| 1-year return | +43.3% | +211.6% |
| 5-year return | +67.5% | +57.9% |
| Volatility (ann.) | 32.8% | 62.8% |
| Beta vs S&P 500 | 1.26 | 2.28 |
| Max drawdown (3Y) | -40.0% | -68.2% |
| Market cap | $8.9B | $3.4B |
| P/E (trailing) | 49.4 | – |
| Dividend yield | 0.89% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ESI | UCTT |
|---|---|---|
| 2022 | -23.9% | -42.2% |
| 2023 | +29.3% | +3.0% |
| 2024 | +11.3% | +5.3% |
| 2025 | -0.4% | -29.5% |
| 2026 | +46.7% | +195.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESI and UCTT good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ESI and UCTT?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.72 over the last year and 0.65 over 5 years.
Is UCTT a good diversifier for ESI?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
On the −1 to +1 scale, 0.66 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/esi-vs-uctt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/esi-vs-uctt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ESI correlations · UCTT correlations
