FLEX vs GLW: Correlation
Measured on weekly returns over the past three years, Flex Ltd. (FLEX) and Corning Inc. (GLW) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLEX and GLW?
On 3 years of weekly data the FLEX/GLW correlation comes out at 0.52, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.52 over 3. The 5-year figure is 0.52, and annualized covariance runs at 1113.4 %².
By 3-year correlation, GLW places #20 of the 45 assets tracked against FLEX. The last year tells two different stories: GLW led by 15.1 percentage points, +114.6% for FLEX against +129.7% for GLW. The relationship is regime-dependent: the rolling one-year correlation swung between 0.24 and 0.78 over the past three years, so this pair behaves very differently depending on the market environment.
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.
FLEX vs GLW: side by side
| FLEX (Flex Ltd.) | GLW (Corning Inc.) | |
|---|---|---|
| 1-year return | +114.6% | +129.7% |
| 5-year return | +716.5% | +331.4% |
| Volatility (ann.) | 50.9% | 42.1% |
| Beta vs S&P 500 | 1.70 | 1.15 |
| Max drawdown (3Y) | -40.0% | -51.5% |
| Market cap | $42.6B | $131.6B |
| P/E (trailing) | 43.2 | 70.4 |
| Dividend yield | 0.00% | 0.73% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | FLEX | GLW |
|---|---|---|
| 2022 | +17.1% | -11.6% |
| 2023 | +41.9% | -1.2% |
| 2024 | +67.2% | +60.6% |
| 2025 | +57.4% | +87.8% |
| 2026 | +90.8% | +75.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLEX and GLW good diversifiers for each other?
To a limited degree. At 0.52 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 FLEX and GLW?
As of 2026-08-27, the correlation of weekly returns between FLEX and GLW is 0.52 over 3 years, 0.51 over 1 year and 0.52 over 5 years.
Is GLW a good diversifier for FLEX?
To a limited degree. At 0.52 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 0.52 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: FLEX correlations · GLW correlations
