WKEY vs. FLEX

Last updated Jul 11, 2026

WKEY (WISeKey International Holding AG) and FLEX (Flex Ltd.) are both stocks. Both are in the Technology sector — WKEY in Semiconductors, FLEX in Electronic Components. Over the past 5 years, WKEY returned -28.18%/yr vs 69.79%/yr for FLEX. At a 0.21 correlation, their price movements are largely independent.

Performance

WKEY vs. FLEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WISeKey International Holding AG (WKEY) and Flex Ltd. (FLEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WKEY achieves a -12.48% return, which is significantly lower than FLEX's 124.76% return.

WKEY

• 1D: -2.28%
• 1M: -8.89%
• 6M: -22.72%
• YTD: -12.48%
• 1Y: 19.48%
• 3Y*: 15.06%
• 5Y*: -28.18%
• 10Y*: —

FLEX

• 1D: -2.96%
• 1M: -9.29%
• 6M: 120.81%
• YTD: 124.76%
• 1Y: 160.20%
• 3Y*: 106.56%
• 5Y*: 69.79%
• 10Y*: 34.39%

*Multi-year figures are annualized to reflect compound growth (CAGR)

WKEY vs. FLEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
WKEY WISeKey International Holding AG	-12.48%	-13.31%	417.40%	-60.67%	-77.35%	-44.57%	-39.61%	52.67%
FLEX Flex Ltd.	124.76%	57.38%	127.87%	41.94%	17.08%	1.95%	42.47%	58.15%

Correlation

The correlation between WKEY and FLEX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jan 11, 2019	0.21

The correlation between WKEY and FLEX shifts across timeframes, from 0.21 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap WKEY : $42.79M FLEX : $49.76B
EPS WKEY : -$2.56 FLEX : $2.34
PS Ratio WKEY : 2.49 FLEX : 1.83
PB Ratio WKEY : 1.68 FLEX : 9.87
Total Revenue (TTM) WKEY : $31.08M FLEX : $27.91B
Gross Profit (TTM) WKEY : $12.08M FLEX : $2.57B
EBITDA (TTM) WKEY : -$72.38M FLEX : $1.66B

Return for Risk

WKEY vs. FLEX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WKEY

WKEY Risk / Return Rank: 53
WKEY Sharpe Ratio Rank: 51
WKEY Sortino Ratio Rank: 59
WKEY Omega Ratio Rank: 56
WKEY Calmar Ratio Rank: 51
WKEY Martin Ratio Rank: 50

FLEX

FLEX Risk / Return Rank: 95
FLEX Sharpe Ratio Rank: 95
FLEX Sortino Ratio Rank: 94
FLEX Omega Ratio Rank: 93
FLEX Calmar Ratio Rank: 98
FLEX Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WKEY vs. FLEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WISeKey International Holding AG (WKEY) and Flex Ltd. (FLEX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	WKEY	FLEX	Difference
Sharpe ratio: Return per unit of total volatility	0.13	2.51	-2.38
Sortino ratio: Return per unit of downside risk	1.00	3.36	-2.36
Omega ratio: Gain probability vs. loss probability	1.11	1.43	-0.32
Calmar ratio: Return relative to maximum drawdown	0.19	8.62	-8.43
Martin ratio: Return relative to average drawdown	0.29	19.61	-19.32

WKEY vs. FLEX - Sharpe Ratio Comparison

The current WKEY Sharpe Ratio is 0.13, which is lower than the FLEX Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of WKEY and FLEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WKEY vs. FLEX - Drawdown Comparison

The maximum WKEY drawdown since its inception was -98.63%, roughly equal to the maximum FLEX drawdown of -96.37%. Use the drawdown chart below to compare losses from any high point for WKEY and FLEX.

Drawdown Indicators

	WKEY	FLEX	Difference
Max Drawdown Largest peak-to-trough decline	-98.63%	-96.37%	-2.26%
Max Drawdown (1Y) Largest decline over 1 year	-69.33%	-18.85%	-50.48%
Max Drawdown (3Y) Largest decline over 3 years	-75.23%	-39.99%	-35.24%
Max Drawdown (5Y) Largest decline over 5 years	-96.78%	-39.99%	-56.79%
Max Drawdown (10Y) Largest decline over 10 years	—	-70.02%	—
Current Drawdown Current decline from peak	-93.30%	-16.21%	-77.09%
Average Drawdown Average peak-to-trough decline	-72.67%	-55.17%	-17.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.14%	8.27%	+37.87%

Volatility

WKEY vs. FLEX - Volatility Comparison

The current volatility for WISeKey International Holding AG (WKEY) is 19.19%, while Flex Ltd. (FLEX) has a volatility of 24.91%. This indicates that WKEY experiences smaller price fluctuations and is considered to be less risky than FLEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WKEY	FLEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.19%	24.91%	-5.72%
Volatility (6M) Calculated over the trailing 6-month period	57.47%	54.33%	+3.14%
Volatility (1Y) Calculated over the trailing 1-year period	101.84%	64.83%	+37.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	121.77%	48.15%	+73.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	132.70%	46.26%	+86.44%

Dividends

WKEY vs. FLEX - Dividend Comparison

Neither WKEY nor FLEX has paid dividends to shareholders.

Position	TTM	2025	2024
FLEX Flex Ltd.	0.00%	0.00%	21.00%
WKEY WISeKey International Holding AG	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both WKEY and FLEX in my portfolio?

WKEY and FLEX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WKEY or FLEX?

FLEX has higher volatility (24.91%) compared to WKEY (19.19%). In terms of maximum drawdown, WKEY dropped -98.63% vs FLEX's -96.37%.

Which has better risk-adjusted returns?

FLEX currently has the higher Sharpe Ratio (2.51 vs 0.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.