FLEX vs JBL: Correlation
Flex Ltd. (FLEX) and Jabil (JBL) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLEX and JBL?
Over the past 3 years, FLEX and JBL moved with a correlation of 0.58, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.45 versus 0.58 over 3 years. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 1193.5 %².
By 3-year correlation, JBL places #9 of the 45 assets tracked against FLEX. Correlation aside, the last 12 months split them widely, with FLEX ahead by 64.2 points (+114.6% versus +50.4%). On a rolling one-year basis the correlation drifted between 0.34 and 0.84, a moderate band.
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 JBL: side by side
| FLEX (Flex Ltd.) | JBL (Jabil) | |
|---|---|---|
| 1-year return | +114.6% | +50.4% |
| 5-year return | +716.5% | +405.5% |
| Volatility (ann.) | 50.9% | 40.6% |
| Beta vs S&P 500 | 1.70 | 1.47 |
| Max drawdown (3Y) | -40.0% | -36.8% |
| Market cap | $42.6B | $32.7B |
| P/E (trailing) | 43.2 | 38.9 |
| Dividend yield | 0.00% | 0.10% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | FLEX | JBL |
|---|---|---|
| 2022 | +17.1% | -2.5% |
| 2023 | +41.9% | +87.4% |
| 2024 | +67.2% | +13.3% |
| 2025 | +57.4% | +58.7% |
| 2026 | +90.8% | +37.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLEX and JBL good diversifiers for each other?
To a limited degree. At 0.58 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 JBL?
The FLEX/JBL correlation stands at 0.58 on a 3-year window (1 year: 0.45, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is JBL a good diversifier for FLEX?
To a limited degree. At 0.58 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 0.58 mean?
A reading of 0.58 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/flex-vs-jbl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/flex-vs-jbl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FLEX correlations · JBL correlations
