BWEN vs SMX: Correlation
Measured on weekly returns over the past three years, Broadwind, Inc. (BWEN) and SMX (Security Matters) Public Limited Company (SMX) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWEN and SMX?
On 3 years of weekly data the BWEN/SMX correlation comes out at 0.38, moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.38 over 3. The 5-year figure is 0.24, and annualized covariance runs at 32774.1 %².
By 3-year correlation, SMX places #10 of the 17 assets tracked against BWEN. Their recent paths diverged sharply: over the last 12 months BWEN outperformed by 208.7 percentage points (+112.5% for BWEN against -96.2% for SMX). One caveat on sizing: SMX is 8.7 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.
BWEN vs SMX: side by side
| BWEN (Broadwind, Inc.) | SMX (SMX (Security Matters) Public Limited Company) | |
|---|---|---|
| 1-year return | +112.5% | -96.2% |
| 5-year return | +46.2% | -100.0% |
| Volatility (ann.) | 99.9% | 869.6% |
| Beta vs S&P 500 | 1.25 | 6.86 |
| Max drawdown (3Y) | -69.3% | -100.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | 12.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWEN | SMX |
|---|---|---|
| 2022 | -4.8% | +3.5% |
| 2023 | +54.7% | -99.7% |
| 2024 | -32.1% | -98.9% |
| 2025 | +50.5% | -99.7% |
| 2026 | +62.2% | -90.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWEN and SMX good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BWEN and SMX?
The BWEN/SMX correlation stands at 0.38 on a 3-year window (1 year: 0.46, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is SMX a good diversifier for BWEN?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bwen-vs-smx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bwen-vs-smx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BWEN correlations · SMX correlations
