ON vs STM: Correlation
ON Semiconductor (ON) and STMicroelectronics N.V. (STM) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ON and STM?
Over the past 3 years, ON and STM moved with a correlation of 0.66, which is strong. Little has changed lately, as the 1-year reading of 0.71 lands near the 3-year figure. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 1517.7 %².
By 3-year correlation, STM places #4 of the 29 assets tracked against ON. Their recent paths diverged sharply: over the last 12 months STM outperformed by 45.0 percentage points (+46.0% for ON against +91.0% for STM).
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 STM: side by side
| ON (ON Semiconductor) | STM (STMicroelectronics N.V.) | |
|---|---|---|
| 1-year return | +46.0% | +91.0% |
| 5-year return | +65.2% | +19.4% |
| Volatility (ann.) | 49.2% | 46.5% |
| Beta vs S&P 500 | 1.61 | 1.62 |
| Max drawdown (3Y) | -67.9% | -64.6% |
| Market cap | $29.1B | $45.8B |
| P/E (trailing) | 47.9 | – |
| Dividend yield | 0.00% | 0.72% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | ON | STM |
|---|---|---|
| 2022 | -8.2% | -26.8% |
| 2023 | +33.9% | +41.7% |
| 2024 | -24.5% | -49.7% |
| 2025 | -14.1% | +5.3% |
| 2026 | +38.1% | +98.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ON and STM good diversifiers for each other?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ON and STM?
As of 2026-08-27, the correlation of weekly returns between ON and STM is 0.66 over 3 years, 0.71 over 1 year and 0.69 over 5 years.
Is STM a good diversifier for ON?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.66 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/on-vs-stm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/on-vs-stm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ON correlations · STM correlations
