MXL vs SYNA: Correlation
Measured on weekly returns over the past three years, MaxLinear, Inc (MXL) and Synaptics Incorporated (SYNA) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MXL and SYNA?
On 3 years of weekly data the MXL/SYNA correlation comes out at 0.53, moderate. Recent behaviour matches the longer record: 0.58 over 1 year against 0.53 over 3. The 5-year figure is 0.54, and annualized covariance runs at 2738.7 %².
Few assets follow MXL as closely as SYNA, which ranks #2 of 24 tracked partners. Correlation aside, the last 12 months split them widely, with MXL ahead by 241.1 points (+278.9% versus +37.8%). Note the risk asymmetry: MXL runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MXL vs SYNA: side by side
| MXL (MaxLinear, Inc) | SYNA (Synaptics Incorporated) | |
|---|---|---|
| 1-year return | +278.9% | +37.8% |
| 5-year return | +19.8% | -48.2% |
| Volatility (ann.) | 105.2% | 49.6% |
| Beta vs S&P 500 | 2.50 | 2.15 |
| Max drawdown (3Y) | -63.9% | -64.2% |
| Market cap | $5.8B | $3.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MXL | SYNA |
|---|---|---|
| 2022 | -55.0% | -67.1% |
| 2023 | -30.0% | +19.9% |
| 2024 | -16.8% | -33.1% |
| 2025 | -11.9% | -3.0% |
| 2026 | +263.9% | +31.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MXL and SYNA good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MXL and SYNA?
The MXL/SYNA correlation stands at 0.53 on a 3-year window (1 year: 0.58, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is SYNA a good diversifier for MXL?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 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.
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Related comparisons
Hubs: MXL correlations · SYNA correlations
