It comes from the formula for capacitance Xc= 1/(2 x pi x freq x C), C in Farads, and the voltage across the capacitor E = I x Xc.I've always used MFD=(2650*I)/E to see if a capacitor was good prior to meters that would read MFD directly.
I've forgotten or maybe never knew where the 2650 comes from?
Anyone?
In microfarads, the factor becomes 1,000,000 uF per Farad/ (2 x 3.1416 x 60 Hz) = 2653 ~ 2650!
I suggest you don't use this factor as the utility supply voltage varies +/- 10% and the peak voltage of the sine input is 1.414 times the RMS value. I'd divide 2650 by 1.56 (1.1 x 1.414) -->factor becomes 1,704.