ICHR vs UCTT: Correlation
How closely do Ichor Holdings (ICHR) and Ultra Clean Holdings, Inc. (UCTT) trade together? Their weekly returns over three years give a correlation of 0.79, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICHR and UCTT?
Over the past 3 years, ICHR and UCTT moved with a correlation of 0.79, which is strong. Recent behaviour matches the longer record: 0.80 over 1 year against 0.79 over 3. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 3706.3 %².
Few assets follow ICHR as closely as UCTT, which ranks #1 of 12 tracked partners. Their recent paths diverged sharply: over the last 12 months ICHR outperformed by 28.2 percentage points (+239.8% for ICHR against +211.6% for UCTT).
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.
ICHR vs UCTT: side by side
| ICHR (Ichor Holdings) | UCTT (Ultra Clean Holdings, Inc.) | |
|---|---|---|
| 1-year return | +239.8% | +211.6% |
| 5-year return | +32.8% | +57.9% |
| Volatility (ann.) | 75.0% | 62.8% |
| Beta vs S&P 500 | 2.32 | 2.28 |
| Max drawdown (3Y) | -69.1% | -68.2% |
| Market cap | $2.2B | $3.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICHR | UCTT |
|---|---|---|
| 2022 | -41.7% | -42.2% |
| 2023 | +25.4% | +3.0% |
| 2024 | -4.2% | +5.3% |
| 2025 | -42.8% | -29.5% |
| 2026 | +220.6% | +195.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICHR and UCTT good diversifiers for each other?
Only partially. A correlation of 0.79 means ICHR and UCTT 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 ICHR and UCTT?
The ICHR/UCTT correlation stands at 0.79 on a 3-year window (1 year: 0.80, 5 years: 0.80), computed from weekly returns as of 2026-08-27.
Is UCTT a good diversifier for ICHR?
Only partially. A correlation of 0.79 means ICHR and UCTT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.79 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/ichr-vs-uctt.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ICHR correlations · UCTT correlations
