INDI vs MCHP: Correlation
Measured on weekly returns over the past three years, indie Semiconductor, Inc. (INDI) and Microchip Technology (MCHP) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDI and MCHP?
Across a 3-year window, the weekly returns of INDI and MCHP correlate at 0.54, moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Stretching to 5 years gives 0.54, with an annualized covariance of 2159.3 %².
By 3-year correlation, MCHP places #5 of the 13 assets tracked against INDI. The last year tells two different stories: MCHP led by 29.1 percentage points, -12.9% for INDI against +16.2% for MCHP. Risk is not evenly split, since INDI carries 1.9 times the volatility of the other side.
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.
INDI vs MCHP: side by side
| INDI (indie Semiconductor, Inc.) | MCHP (Microchip Technology) | |
|---|---|---|
| 1-year return | -12.9% | +16.2% |
| 5-year return | -59.1% | +5.9% |
| Volatility (ann.) | 86.4% | 46.7% |
| Beta vs S&P 500 | 3.07 | 1.97 |
| Max drawdown (3Y) | -81.3% | -63.8% |
| Market cap | $0.9B | $41.0B |
| P/E (trailing) | – | 109.4 |
| Dividend yield | 0.00% | 2.46% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | INDI | MCHP |
|---|---|---|
| 2022 | -51.4% | -18.0% |
| 2023 | +39.1% | +30.9% |
| 2024 | -50.1% | -35.0% |
| 2025 | -12.8% | +14.6% |
| 2026 | +14.4% | +20.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDI and MCHP good diversifiers for each other?
Only partially. A correlation of 0.54 means INDI and MCHP 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 INDI and MCHP?
As of 2026-08-27, the correlation of weekly returns between INDI and MCHP is 0.54 over 3 years, 0.61 over 1 year and 0.54 over 5 years.
Is MCHP a good diversifier for INDI?
Only partially. A correlation of 0.54 means INDI and MCHP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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/indi-vs-mchp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/indi-vs-mchp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: INDI correlations · MCHP correlations
