GFS vs SOXX: Correlation
How closely do GlobalFoundries Inc. (GFS) and iShares Semiconductor ETF (SOXX) trade together? Their weekly returns over three years give a correlation of 0.69, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GFS and SOXX?
Over the past 3 years, GFS and SOXX moved with a correlation of 0.69, which is strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 1083.9 %².
In GFS's tracked universe of 17 assets, SOXX sits right near the top at #2. Correlation aside, the last 12 months split them widely, with SOXX ahead by 73.4 points (+36.6% versus +110.0%).
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.
GFS vs SOXX: side by side
| GFS (GlobalFoundries Inc.) | SOXX (iShares Semiconductor ETF) | |
|---|---|---|
| 1-year return | +36.6% | +110.0% |
| 5-year return | +0.0% | +247.5% |
| Volatility (ann.) | 44.9% | 35.2% |
| Beta vs S&P 500 | 1.69 | 1.93 |
| Max drawdown (3Y) | -51.2% | -41.4% |
| Market cap | $25.4B | – |
| P/E (trailing) | 35.6 | – |
| Dividend yield | 0.26% | 0.29% |
| Expense ratio | – | 0.33% |
| Assets under management | – | $44.7B |
| Sector / category | US Listed | ETF · Thematic |
On the fund side, SOXX sits in the Technology category at iShares, with $44.7B under management, 30 holdings, a 0.33% expense ratio, a 0.29% trailing dividend yield.
Year-by-year returns
| Year | GFS | SOXX |
|---|---|---|
| 2022 | -17.1% | -35.1% |
| 2023 | +12.5% | +67.1% |
| 2024 | -29.2% | +12.9% |
| 2025 | -18.6% | +40.7% |
| 2026 | +32.9% | +74.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GFS and SOXX good diversifiers for each other?
Only partially. A correlation of 0.69 means GFS and SOXX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GFS and SOXX?
As of 2026-08-27, the correlation of weekly returns between GFS and SOXX is 0.69 over 3 years, 0.69 over 1 year and 0.69 over 5 years.
Is SOXX a good diversifier for GFS?
Only partially. A correlation of 0.69 means GFS and SOXX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.69 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/gfs-vs-soxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gfs-vs-soxx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GFS correlations · SOXX correlations
