MPWR vs ON: Correlation
Measured on weekly returns over the past three years, Monolithic Power Systems (MPWR) and ON Semiconductor (ON) 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 MPWR and ON?
On 3 years of weekly data the MPWR/ON correlation comes out at 0.54, moderate. Recent behaviour matches the longer record: 0.64 over 1 year against 0.54 over 3. The 5-year figure is 0.59, and annualized covariance runs at 1271.7 %².
By 3-year correlation, ON places #27 of the 41 assets tracked against MPWR. Over the last 12 months MPWR came out ahead by 6.4 percentage points (+52.4% against +46.0%). This link changes with the market regime, having swung between 0.20 and 0.76 on a rolling one-year basis.
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.
MPWR vs ON: side by side
| MPWR (Monolithic Power Systems) | ON (ON Semiconductor) | |
|---|---|---|
| 1-year return | +52.4% | +46.0% |
| 5-year return | +170.3% | +65.2% |
| Volatility (ann.) | 48.1% | 49.2% |
| Beta vs S&P 500 | 2.22 | 1.61 |
| Max drawdown (3Y) | -51.6% | -67.9% |
| Market cap | $64.4B | $29.1B |
| P/E (trailing) | 79.4 | 47.9 |
| Dividend yield | 0.55% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | MPWR | ON |
|---|---|---|
| 2022 | -27.8% | -8.2% |
| 2023 | +79.8% | +33.9% |
| 2024 | -5.6% | -24.5% |
| 2025 | +54.5% | -14.1% |
| 2026 | +45.2% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPWR and ON good diversifiers for each other?
Only partially. A correlation of 0.54 means MPWR and ON 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 MPWR and ON?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.64 over the last year and 0.59 over 5 years.
Is ON a good diversifier for MPWR?
Only partially. A correlation of 0.54 means MPWR and ON 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?
A reading of 0.54 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/mpwr-vs-on.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mpwr-vs-on/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MPWR correlations · ON correlations
