FLEX vs MU: Correlation
Flex Ltd. (FLEX) and Micron Technology (MU) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLEX and MU?
On 3 years of weekly data the FLEX/MU correlation comes out at 0.59, moderate. Little has changed lately, as the 1-year reading of 0.62 lands near the 3-year figure. The 5-year figure is 0.55, and annualized covariance runs at 1892.9 %².
By 3-year correlation, MU places #8 of the 45 assets tracked against FLEX. Correlation aside, the last 12 months split them widely, with MU ahead by 581.1 points (+114.6% versus +695.7%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.15 and 0.68 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 MU: side by side
| FLEX (Flex Ltd.) | MU (Micron Technology) | |
|---|---|---|
| 1-year return | +114.6% | +695.7% |
| 5-year return | +716.5% | +1211.2% |
| Volatility (ann.) | 50.9% | 63.3% |
| Beta vs S&P 500 | 1.70 | 2.47 |
| Max drawdown (3Y) | -40.0% | -57.6% |
| Market cap | $42.6B | – |
| P/E (trailing) | 43.2 | 21.2 |
| Dividend yield | 0.00% | 0.06% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | FLEX | MU |
|---|---|---|
| 2022 | +17.1% | -45.9% |
| 2023 | +41.9% | +71.9% |
| 2024 | +67.2% | -1.0% |
| 2025 | +57.4% | +240.2% |
| 2026 | +90.8% | +227.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLEX and MU good diversifiers for each other?
To a limited degree. At 0.59 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 MU?
As of 2026-08-27, the correlation of weekly returns between FLEX and MU is 0.59 over 3 years, 0.62 over 1 year and 0.55 over 5 years.
Is MU a good diversifier for FLEX?
To a limited degree. At 0.59 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 0.59 mean?
A reading of 0.59 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-mu.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/flex-vs-mu/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLEX correlations · MU correlations
