FLEX vs SANM: Correlation
Flex Ltd. (FLEX) and Sanmina Corporation (SANM) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLEX and SANM?
Across a 3-year window, the weekly returns of FLEX and SANM correlate at 0.56, moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. Stretching to 5 years gives 0.56, with an annualized covariance of 1320.8 %².
Within FLEX's tracked universe of 45 assets, SANM comes in at #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FLEX ahead by 40.7 points (+114.6% versus +73.9%).
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 SANM: side by side
| FLEX (Flex Ltd.) | SANM (Sanmina Corporation) | |
|---|---|---|
| 1-year return | +114.6% | +73.9% |
| 5-year return | +716.5% | +410.5% |
| Volatility (ann.) | 50.9% | 46.6% |
| Beta vs S&P 500 | 1.70 | 1.34 |
| Max drawdown (3Y) | -40.0% | -42.0% |
| Market cap | $42.6B | $10.9B |
| P/E (trailing) | 43.2 | 35.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | FLEX | SANM |
|---|---|---|
| 2022 | +17.1% | +38.2% |
| 2023 | +41.9% | -10.3% |
| 2024 | +67.2% | +47.3% |
| 2025 | +57.4% | +98.3% |
| 2026 | +90.8% | +35.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLEX and SANM good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FLEX and SANM?
Using weekly returns as of 2026-08-27: 0.56 over 3 years, with 0.47 over the last year and 0.56 over 5 years.
Is SANM a good diversifier for FLEX?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/flex-vs-sanm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/flex-vs-sanm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLEX correlations · SANM correlations
