AGRO vs SMCI: Correlation
Adecoagro S.A. (AGRO) and Supermicro (SMCI) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGRO and SMCI?
Over the past 3 years, AGRO and SMCI moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.36) than the 3-year average (-0.17). Over 5 years the correlation is -0.04, and the annualized covariance of weekly returns is -773.3 %².
Within AGRO's tracked universe of 36 assets, SMCI comes in at #10 by 3-year correlation. The last year tells two different stories: AGRO led by 42.2 percentage points, +28.1% for AGRO against -14.1% for SMCI. One caveat on sizing: SMCI is 2.6 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.
AGRO vs SMCI: side by side
| AGRO (Adecoagro S.A.) | SMCI (Supermicro) | |
|---|---|---|
| 1-year return | +28.1% | -14.1% |
| 5-year return | +29.1% | +983.4% |
| Volatility (ann.) | 41.7% | 107.1% |
| Beta vs S&P 500 | -0.27 | 3.08 |
| Max drawdown (3Y) | -41.3% | -84.8% |
| Market cap | $1.5B | $24.9B |
| P/E (trailing) | 28.9 | 11.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | AGRO | SMCI |
|---|---|---|
| 2022 | +11.5% | +86.8% |
| 2023 | +38.6% | +246.2% |
| 2024 | -12.4% | +7.2% |
| 2025 | -14.3% | -4.0% |
| 2026 | +36.0% | +31.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGRO and SMCI good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between AGRO and SMCI?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.36 over the last year and -0.04 over 5 years.
Is SMCI a good diversifier for AGRO?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 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/agro-vs-smci.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/agro-vs-smci/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AGRO correlations · SMCI correlations
