CHWY vs SMMT: Correlation
Measured on weekly returns over the past three years, Chewy, Inc. (CHWY) and Summit Therapeutics Inc. (SMMT) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHWY and SMMT?
Across a 3-year window, the weekly returns of CHWY and SMMT correlate at 0.43, moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. Stretching to 5 years gives 0.18, with an annualized covariance of 3330.6 %².
Few assets follow CHWY as closely as SMMT, which ranks #2 of 11 tracked partners. Their 12-month results are close: -43.6% for CHWY against -42.2% for SMMT. One caveat on sizing: SMMT is 2.9 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.
CHWY vs SMMT: side by side
| CHWY (Chewy, Inc.) | SMMT (Summit Therapeutics Inc.) | |
|---|---|---|
| 1-year return | -43.6% | -42.2% |
| 5-year return | -74.7% | +78.5% |
| Volatility (ann.) | 51.6% | 150.4% |
| Beta vs S&P 500 | 1.00 | 2.43 |
| Max drawdown (3Y) | -63.7% | -66.1% |
| Market cap | $9.3B | $11.4B |
| P/E (trailing) | 38.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHWY | SMMT |
|---|---|---|
| 2022 | -37.1% | +58.0% |
| 2023 | -36.3% | -38.6% |
| 2024 | +41.7% | +583.7% |
| 2025 | -1.3% | -2.0% |
| 2026 | -31.0% | -18.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHWY and SMMT good diversifiers for each other?
Reasonably. At 0.43, CHWY and SMMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CHWY and SMMT?
As of 2026-08-27, the correlation of weekly returns between CHWY and SMMT is 0.43 over 3 years, 0.47 over 1 year and 0.18 over 5 years.
Is SMMT a good diversifier for CHWY?
Reasonably. At 0.43, CHWY and SMMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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.
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Related comparisons
Hubs: CHWY correlations · SMMT correlations
