ACLS vs SMH: Correlation
How closely do Axcelis Technologies, Inc. (ACLS) and VanEck Semiconductor ETF (SMH) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACLS and SMH?
On 3 years of weekly data the ACLS/SMH correlation comes out at 0.68, strong. Little has changed lately, as the 1-year reading of 0.60 lands near the 3-year figure. The 5-year figure is 0.74, and annualized covariance runs at 1181.6 %².
By 3-year correlation, SMH places #4 of the 11 assets tracked against ACLS. Correlation aside, the last 12 months split them widely, with SMH ahead by 43.7 points (+49.4% versus +93.1%). One caveat on sizing: ACLS is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ACLS vs SMH: side by side
| ACLS (Axcelis Technologies, Inc.) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | +49.4% | +93.1% |
| 5-year return | +140.5% | +332.8% |
| Volatility (ann.) | 51.6% | 33.7% |
| Beta vs S&P 500 | 1.57 | 1.91 |
| Max drawdown (3Y) | -78.0% | -35.7% |
| Market cap | $3.8B | – |
| P/E (trailing) | 40.4 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | ACLS | SMH |
|---|---|---|
| 2022 | +6.4% | -33.5% |
| 2023 | +63.4% | +73.4% |
| 2024 | -46.1% | +39.1% |
| 2025 | +15.0% | +49.2% |
| 2026 | +52.4% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACLS and SMH good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ACLS and SMH?
As of 2026-08-27, the correlation of weekly returns between ACLS and SMH is 0.68 over 3 years, 0.60 over 1 year and 0.74 over 5 years.
Is SMH a good diversifier for ACLS?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
A reading of 0.68 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acls-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/acls-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ACLS correlations · SMH correlations
