CMCSA vs SMHB: Correlation
How closely do Comcast (CMCSA) and ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN (SMHB) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMCSA and SMHB?
On 3 years of weekly data the CMCSA/SMHB correlation comes out at 0.47, moderate. Recent behaviour matches the longer record: 0.38 over 1 year against 0.47 over 3. The 5-year figure is 0.53, and annualized covariance runs at 440.4 %².
Among the 39 assets we track against CMCSA, SMHB ranks #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SMHB ahead by 20.0 points (-12.6% versus +7.4%). One caveat on sizing: SMHB is 1.7 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.
CMCSA vs SMHB: side by side
| CMCSA (Comcast) | SMHB (ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN) | |
|---|---|---|
| 1-year return | -12.6% | +7.4% |
| 5-year return | -44.5% | -13.5% |
| Volatility (ann.) | 23.8% | 39.3% |
| Beta vs S&P 500 | 0.48 | 1.42 |
| Max drawdown (3Y) | -44.9% | -45.0% |
| Market cap | $93.7B | – |
| P/E (trailing) | 8.7 | – |
| Dividend yield | 4.85% | – |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | CMCSA | SMHB |
|---|---|---|
| 2022 | -28.7% | -36.0% |
| 2023 | +29.1% | +36.0% |
| 2024 | -11.8% | -15.8% |
| 2025 | -17.3% | -7.7% |
| 2026 | -2.2% | +22.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMCSA and SMHB good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CMCSA and SMHB?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.38 over the last year and 0.53 over 5 years.
Is SMHB a good diversifier for CMCSA?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 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/cmcsa-vs-smhb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cmcsa-vs-smhb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CMCSA correlations · SMHB correlations
