FLEX vs SITM: Correlation
How closely do Flex Ltd. (FLEX) and SiTime Corporation (SITM) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLEX and SITM?
On 3 years of weekly data the FLEX/SITM correlation comes out at 0.62, strong. The relationship has been stable: the 1-year correlation (0.70) sits close to the 3-year figure. The 5-year figure is 0.57, and annualized covariance runs at 2454.9 %².
SITM is one of the assets that tracks FLEX most closely: it ranks #3 out of the 45 assets we track against FLEX. Their recent paths diverged sharply: over the last 12 months SITM outperformed by 36.7 percentage points (+114.6% for FLEX against +151.3% for SITM). Note the risk asymmetry: SITM runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SITM: side by side
| FLEX (Flex Ltd.) | SITM (SiTime Corporation) | |
|---|---|---|
| 1-year return | +114.6% | +151.3% |
| 5-year return | +716.5% | +183.2% |
| Volatility (ann.) | 50.9% | 77.7% |
| Beta vs S&P 500 | 1.70 | 2.97 |
| Max drawdown (3Y) | -40.0% | -55.3% |
| Market cap | $42.6B | $18.0B |
| P/E (trailing) | 43.2 | 999.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | FLEX | SITM |
|---|---|---|
| 2022 | +17.1% | -65.3% |
| 2023 | +41.9% | +20.1% |
| 2024 | +67.2% | +75.7% |
| 2025 | +57.4% | +64.6% |
| 2026 | +90.8% | +69.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLEX and SITM good diversifiers for each other?
To a limited degree. At 0.62 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 SITM?
The FLEX/SITM correlation stands at 0.62 on a 3-year window (1 year: 0.70, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is SITM a good diversifier for FLEX?
To a limited degree. At 0.62 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 0.62 mean?
On the −1 to +1 scale, 0.62 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-sitm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/flex-vs-sitm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLEX correlations · SITM correlations
