MCHP vs SOXX: Correlation
Measured on weekly returns over the past three years, Microchip Technology (MCHP) and iShares Semiconductor ETF (SOXX) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCHP and SOXX?
On 3 years of weekly data the MCHP/SOXX correlation comes out at 0.76, strong. Recent behaviour matches the longer record: 0.75 over 1 year against 0.76 over 3. The 5-year figure is 0.79, and annualized covariance runs at 1248.6 %².
Among the 44 assets we track against MCHP, SOXX ranks #4 by 3-year correlation. The last year tells two different stories: SOXX led by 93.8 percentage points, +16.2% for MCHP against +110.0% for SOXX. The link looks structural: the rolling one-year correlation barely moved, holding between 0.69 and 0.84.
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 SOXX: side by side
| MCHP (Microchip Technology) | SOXX (iShares Semiconductor ETF) | |
|---|---|---|
| 1-year return | +16.2% | +110.0% |
| 5-year return | +5.9% | +247.5% |
| Volatility (ann.) | 46.7% | 35.2% |
| Beta vs S&P 500 | 1.97 | 1.93 |
| Max drawdown (3Y) | -63.8% | -41.4% |
| Market cap | $41.0B | – |
| P/E (trailing) | 109.4 | – |
| Dividend yield | 2.46% | 0.29% |
| Expense ratio | – | 0.33% |
| Assets under management | – | $44.7B |
| Sector / category | Information Technology | 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 | MCHP | SOXX |
|---|---|---|
| 2022 | -18.0% | -35.1% |
| 2023 | +30.9% | +67.1% |
| 2024 | -35.0% | +12.9% |
| 2025 | +14.6% | +40.7% |
| 2026 | +20.5% | +74.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that SOXX holds MCHP at a 2.19% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are MCHP and SOXX good diversifiers for each other?
To a limited degree. At 0.76 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 SOXX?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.75 over the last year and 0.79 over 5 years.
Is SOXX a good diversifier for MCHP?
To a limited degree. At 0.76 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 0.76 mean?
A reading of 0.76 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/mchp-vs-soxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mchp-vs-soxx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MCHP correlations · SOXX correlations
