ADI vs SMH: Correlation
Measured on weekly returns over the past three years, Analog Devices (ADI) and VanEck Semiconductor ETF (SMH) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADI and SMH?
Over the past 3 years, ADI and SMH moved with a correlation of 0.76, which is strong. The relationship has been stable: the 1-year correlation (0.74) sits close to the 3-year figure. Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 833.1 %².
Among the 51 assets we track against ADI, SMH ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SMH ahead by 44.5 points (+48.6% versus +93.1%). On a rolling one-year basis the correlation drifted between 0.53 and 0.81, a moderate band.
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.
ADI vs SMH: side by side
| ADI (Analog Devices) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | +48.6% | +93.1% |
| 5-year return | +143.1% | +332.8% |
| Volatility (ann.) | 32.6% | 33.7% |
| Beta vs S&P 500 | 1.56 | 1.91 |
| Max drawdown (3Y) | -32.2% | -35.7% |
| Market cap | $181.5B | – |
| P/E (trailing) | 44.6 | – |
| Dividend yield | 1.15% | – |
| Sector / category | Information Technology | ETF · Thematic |
Year-by-year returns
| Year | ADI | SMH |
|---|---|---|
| 2022 | -4.9% | -33.5% |
| 2023 | +23.4% | +73.4% |
| 2024 | +8.8% | +39.1% |
| 2025 | +29.8% | +49.2% |
| 2026 | +38.9% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADI and SMH good diversifiers for each other?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ADI and SMH?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.74 over the last year and 0.76 over 5 years.
Is SMH a good diversifier for ADI?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.76 mean?
On the −1 to +1 scale, 0.76 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/adi-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/adi-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ADI correlations · SMH correlations
