NXPI vs ON: Correlation
Measured on weekly returns over the past three years, NXP Semiconductors (NXPI) and ON Semiconductor (ON) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXPI and ON?
Over the past 3 years, NXPI and ON moved with a correlation of 0.72, which is strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.72 over 3. Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 1420.5 %².
ON is one of the assets that tracks NXPI most closely: it ranks #3 out of the 35 assets we track against NXPI. Correlation aside, the last 12 months split them widely, with ON ahead by 49.3 points (-3.3% versus +46.0%). On a rolling one-year basis the correlation drifted between 0.62 and 0.87, a moderate band.
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.
NXPI vs ON: side by side
| NXPI (NXP Semiconductors) | ON (ON Semiconductor) | |
|---|---|---|
| 1-year return | -3.3% | +46.0% |
| 5-year return | +8.6% | +65.2% |
| Volatility (ann.) | 39.9% | 49.2% |
| Beta vs S&P 500 | 1.53 | 1.61 |
| Max drawdown (3Y) | -46.5% | -67.9% |
| Market cap | $57.0B | $29.1B |
| P/E (trailing) | 19.3 | 47.9 |
| Dividend yield | 1.82% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | NXPI | ON |
|---|---|---|
| 2022 | -29.2% | -8.2% |
| 2023 | +48.4% | +33.9% |
| 2024 | -8.0% | -24.5% |
| 2025 | +6.4% | -14.1% |
| 2026 | +4.9% | +38.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXPI and ON good diversifiers for each other?
Only partially. A correlation of 0.72 means NXPI 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 NXPI and ON?
The NXPI/ON correlation stands at 0.72 on a 3-year window (1 year: 0.69, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is ON a good diversifier for NXPI?
Only partially. A correlation of 0.72 means NXPI 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 0.72 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/nxpi-vs-on.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nxpi-vs-on/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NXPI correlations · ON correlations
