FLEX vs STRL: Correlation
Flex Ltd. (FLEX) and Sterling Infrastructure, Inc. (STRL) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLEX and STRL?
On 3 years of weekly data the FLEX/STRL correlation comes out at 0.71, strong. Lately the two have moved closer together, with the 1-year correlation at 0.84 versus 0.71 over 3 years. The 5-year figure is 0.62, and annualized covariance runs at 2418.6 %².
In FLEX's tracked universe of 45 assets, STRL sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months FLEX outperformed by 39.6 percentage points (+114.6% for FLEX against +75.0% for STRL).
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 STRL: side by side
| FLEX (Flex Ltd.) | STRL (Sterling Infrastructure, Inc.) | |
|---|---|---|
| 1-year return | +114.6% | +75.0% |
| 5-year return | +716.5% | +2095.9% |
| Volatility (ann.) | 50.9% | 66.9% |
| Beta vs S&P 500 | 1.70 | 2.13 |
| Max drawdown (3Y) | -40.0% | -51.1% |
| Market cap | $42.6B | $15.5B |
| P/E (trailing) | 43.2 | 36.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | FLEX | STRL |
|---|---|---|
| 2022 | +17.1% | +24.7% |
| 2023 | +41.9% | +168.1% |
| 2024 | +67.2% | +91.6% |
| 2025 | +57.4% | +81.8% |
| 2026 | +90.8% | +65.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLEX and STRL good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FLEX and STRL?
The FLEX/STRL correlation stands at 0.71 on a 3-year window (1 year: 0.84, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is STRL a good diversifier for FLEX?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/flex-vs-strl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/flex-vs-strl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FLEX correlations · STRL correlations
