FLEX vs OSS: Correlation
How closely do Flex Ltd. (FLEX) and One Stop Systems, Inc. (OSS) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLEX and OSS?
Over the past 3 years, FLEX and OSS moved with a correlation of 0.48, which is moderate. The past 12 months show a tighter link (0.64) than the 3-year average (0.48). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 1998.4 %².
Among the 45 assets we track against FLEX, OSS ranks #28 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FLEX outperformed by 34.1 percentage points (+114.6% for FLEX against +80.5% for OSS). One caveat on sizing: OSS is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 OSS: side by side
| FLEX (Flex Ltd.) | OSS (One Stop Systems, Inc.) | |
|---|---|---|
| 1-year return | +114.6% | +80.5% |
| 5-year return | +716.5% | +103.2% |
| Volatility (ann.) | 50.9% | 82.4% |
| Beta vs S&P 500 | 1.70 | 1.82 |
| Max drawdown (3Y) | -40.0% | -56.0% |
| Market cap | $42.6B | $0.3B |
| P/E (trailing) | 43.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | FLEX | OSS |
|---|---|---|
| 2022 | +17.1% | -39.2% |
| 2023 | +41.9% | -30.2% |
| 2024 | +67.2% | +59.5% |
| 2025 | +57.4% | +114.3% |
| 2026 | +90.8% | +57.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLEX and OSS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FLEX and OSS?
As of 2026-08-27, the correlation of weekly returns between FLEX and OSS is 0.48 over 3 years, 0.64 over 1 year and 0.44 over 5 years.
Is OSS a good diversifier for FLEX?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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.
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Related comparisons
Hubs: FLEX correlations · OSS correlations
