ON vs POWI: Correlation
ON Semiconductor (ON) and Power Integrations, Inc. (POWI) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ON and POWI?
Over the past 3 years, ON and POWI moved with a correlation of 0.63, which is strong. The relationship has been stable: the 1-year correlation (0.63) sits close to the 3-year figure. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 1439.5 %².
Within ON's tracked universe of 29 assets, POWI comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ON outperformed by 25.5 percentage points (+46.0% for ON against +20.5% for POWI).
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.
ON vs POWI: side by side
| ON (ON Semiconductor) | POWI (Power Integrations, Inc.) | |
|---|---|---|
| 1-year return | +46.0% | +20.5% |
| 5-year return | +65.2% | -46.7% |
| Volatility (ann.) | 49.2% | 46.5% |
| Beta vs S&P 500 | 1.61 | 1.59 |
| Max drawdown (3Y) | -67.9% | -63.6% |
| Market cap | $29.1B | $3.1B |
| P/E (trailing) | 47.9 | 125.7 |
| Dividend yield | 0.00% | 1.55% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | ON | POWI |
|---|---|---|
| 2022 | -8.2% | -22.1% |
| 2023 | +33.9% | +15.6% |
| 2024 | -24.5% | -24.0% |
| 2025 | -14.1% | -41.3% |
| 2026 | +38.1% | +56.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ON and POWI good diversifiers for each other?
Only partially. A correlation of 0.63 means ON and POWI 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 ON and POWI?
The ON/POWI correlation stands at 0.63 on a 3-year window (1 year: 0.63, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is POWI a good diversifier for ON?
Only partially. A correlation of 0.63 means ON and POWI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/on-vs-powi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/on-vs-powi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ON correlations · POWI correlations
