MCHP vs OLED: Correlation
Microchip Technology (MCHP) and Universal Display Corporation (OLED) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCHP and OLED?
Across a 3-year window, the weekly returns of MCHP and OLED correlate at 0.61, strong. Recent behaviour matches the longer record: 0.52 over 1 year against 0.61 over 3. Stretching to 5 years gives 0.59, with an annualized covariance of 1161.4 %².
By 3-year correlation, OLED places #20 of the 44 assets tracked against MCHP. The last year tells two different stories: MCHP led by 55.0 percentage points, +16.2% for MCHP against -38.8% for OLED.
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.
MCHP vs OLED: side by side
| MCHP (Microchip Technology) | OLED (Universal Display Corporation) | |
|---|---|---|
| 1-year return | +16.2% | -38.8% |
| 5-year return | +5.9% | -57.1% |
| Volatility (ann.) | 46.7% | 40.6% |
| Beta vs S&P 500 | 1.97 | 1.51 |
| Max drawdown (3Y) | -63.8% | -66.1% |
| Market cap | $41.0B | $3.9B |
| P/E (trailing) | 109.4 | 20.5 |
| Dividend yield | 2.46% | 2.19% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | MCHP | OLED |
|---|---|---|
| 2022 | -18.0% | -33.9% |
| 2023 | +30.9% | +78.6% |
| 2024 | -35.0% | -22.9% |
| 2025 | +14.6% | -19.1% |
| 2026 | +20.5% | -26.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCHP and OLED good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MCHP and OLED?
The MCHP/OLED correlation stands at 0.61 on a 3-year window (1 year: 0.52, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is OLED a good diversifier for MCHP?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 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/mchp-vs-oled.json
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Related comparisons
Hubs: MCHP correlations · OLED correlations
