FN vs TSEM: Correlation
Fabrinet (FN) and Tower Semiconductor Ltd. (TSEM) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FN and TSEM?
Over the past 3 years, FN and TSEM moved with a correlation of 0.49, which is moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 1408.8 %².
Out of 13 assets tracked against FN, TSEM lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with TSEM ahead by 242.4 points (+30.2% versus +272.6%).
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.
FN vs TSEM: side by side
| FN (Fabrinet) | TSEM (Tower Semiconductor Ltd.) | |
|---|---|---|
| 1-year return | +30.2% | +272.6% |
| 5-year return | +317.1% | +648.0% |
| Volatility (ann.) | 55.4% | 52.1% |
| Beta vs S&P 500 | 1.97 | 1.55 |
| Max drawdown (3Y) | -44.5% | -45.8% |
| Market cap | $15.5B | $24.8B |
| P/E (trailing) | 33.2 | 87.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FN | TSEM |
|---|---|---|
| 2022 | +8.2% | +8.9% |
| 2023 | +48.4% | -29.4% |
| 2024 | +15.5% | +68.8% |
| 2025 | +107.1% | +128.0% |
| 2026 | -5.0% | +87.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FN and TSEM good diversifiers for each other?
Reasonably. At 0.49, FN and TSEM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FN and TSEM?
The FN/TSEM correlation stands at 0.49 on a 3-year window (1 year: 0.53, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is TSEM a good diversifier for FN?
Reasonably. At 0.49, FN and TSEM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 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/fn-vs-tsem.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fn-vs-tsem/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FN correlations · TSEM correlations
