ABR vs SMHB: Correlation
Arbor Realty Trust (ABR) and ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN (SMHB) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABR and SMHB?
Over the past 3 years, ABR and SMHB moved with a correlation of 0.56, which is moderate. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 789.8 %².
Few assets follow ABR as closely as SMHB, which ranks #1 of 12 tracked partners. Correlation aside, the last 12 months split them widely, with SMHB ahead by 58.9 points (-51.5% versus +7.4%).
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.
ABR vs SMHB: side by side
| ABR (Arbor Realty Trust) | SMHB (ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN) | |
|---|---|---|
| 1-year return | -51.5% | +7.4% |
| 5-year return | -50.7% | -13.5% |
| Volatility (ann.) | 36.0% | 39.3% |
| Beta vs S&P 500 | 0.73 | 1.42 |
| Max drawdown (3Y) | -62.0% | -45.0% |
| Market cap | $1.0B | – |
| P/E (trailing) | 55.9 | – |
| Dividend yield | 18.58% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABR | SMHB |
|---|---|---|
| 2022 | -20.7% | -36.0% |
| 2023 | +29.7% | +36.0% |
| 2024 | +3.2% | -15.8% |
| 2025 | -36.7% | -7.7% |
| 2026 | -28.5% | +22.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABR and SMHB good diversifiers for each other?
To a limited degree. At 0.56 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 ABR and SMHB?
As of 2026-08-27, the correlation of weekly returns between ABR and SMHB is 0.56 over 3 years, 0.64 over 1 year and 0.66 over 5 years.
Is SMHB a good diversifier for ABR?
To a limited degree. At 0.56 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 0.56 mean?
On the −1 to +1 scale, 0.56 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/abr-vs-smhb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/abr-vs-smhb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ABR correlations · SMHB correlations
