MCHP vs ZBRA: Correlation
How closely do Microchip Technology (MCHP) and Zebra Technologies (ZBRA) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCHP and ZBRA?
Across a 3-year window, the weekly returns of MCHP and ZBRA correlate at 0.47, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.36 versus 0.47 over 3 years. Stretching to 5 years gives 0.54, with an annualized covariance of 899.9 %².
Within MCHP's tracked universe of 44 assets, ZBRA comes in at #31 by 3-year correlation. Neither side won the trailing year by much: +16.2% against +12.3%. The rolling one-year correlation moved between 0.32 and 0.72 over the past three years, a moderate range.
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 ZBRA: side by side
| MCHP (Microchip Technology) | ZBRA (Zebra Technologies) | |
|---|---|---|
| 1-year return | +16.2% | +12.3% |
| 5-year return | +5.9% | -38.2% |
| Volatility (ann.) | 46.7% | 40.8% |
| Beta vs S&P 500 | 1.97 | 1.54 |
| Max drawdown (3Y) | -63.8% | -52.7% |
| Market cap | $41.0B | $17.1B |
| P/E (trailing) | 109.4 | 33.0 |
| Dividend yield | 2.46% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | MCHP | ZBRA |
|---|---|---|
| 2022 | -18.0% | -56.9% |
| 2023 | +30.9% | +6.6% |
| 2024 | -35.0% | +41.3% |
| 2025 | +14.6% | -37.1% |
| 2026 | +20.5% | +48.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCHP and ZBRA good diversifiers for each other?
Reasonably. At 0.47, MCHP and ZBRA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MCHP and ZBRA?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.36 over the last year and 0.54 over 5 years.
Is ZBRA a good diversifier for MCHP?
Reasonably. At 0.47, MCHP and ZBRA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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-zbra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mchp-vs-zbra/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MCHP correlations · ZBRA correlations
