FLEX vs MTSI: Correlation
How closely do Flex Ltd. (FLEX) and MACOM Technology Solutions Holdings, Inc. (MTSI) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLEX and MTSI?
Across a 3-year window, the weekly returns of FLEX and MTSI correlate at 0.60, strong. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 1490.4 %².
Within FLEX's tracked universe of 45 assets, MTSI comes in at #5 by 3-year correlation. Twelve-month performance is nearly a tie, at +114.6% for FLEX and +113.8% for MTSI.
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 MTSI: side by side
| FLEX (Flex Ltd.) | MTSI (MACOM Technology Solutions Holdings, Inc.) | |
|---|---|---|
| 1-year return | +114.6% | +113.8% |
| 5-year return | +716.5% | +341.3% |
| Volatility (ann.) | 50.9% | 48.7% |
| Beta vs S&P 500 | 1.70 | 1.65 |
| Max drawdown (3Y) | -40.0% | -44.2% |
| Market cap | $42.6B | $21.2B |
| P/E (trailing) | 43.2 | 88.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | FLEX | MTSI |
|---|---|---|
| 2022 | +17.1% | -19.6% |
| 2023 | +41.9% | +47.6% |
| 2024 | +67.2% | +39.8% |
| 2025 | +57.4% | +31.8% |
| 2026 | +90.8% | +61.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLEX and MTSI good diversifiers for each other?
Only partially. A correlation of 0.60 means FLEX and MTSI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between FLEX and MTSI?
As of 2026-08-27, the correlation of weekly returns between FLEX and MTSI is 0.60 over 3 years, 0.61 over 1 year and 0.57 over 5 years.
Is MTSI a good diversifier for FLEX?
Only partially. A correlation of 0.60 means FLEX and MTSI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
A reading of 0.60 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-mtsi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/flex-vs-mtsi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FLEX correlations · MTSI correlations
