COHU vs SMH: Correlation
Cohu, Inc. (COHU) and VanEck Semiconductor ETF (SMH) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COHU and SMH?
On 3 years of weekly data the COHU/SMH correlation comes out at 0.72, strong. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. The 5-year figure is 0.76, and annualized covariance runs at 1093.0 %².
By 3-year correlation, SMH places #5 of the 24 assets tracked against COHU. Correlation aside, the last 12 months split them widely, with COHU ahead by 61.7 points (+154.8% versus +93.1%).
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.
COHU vs SMH: side by side
| COHU (Cohu, Inc.) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | +154.8% | +93.1% |
| 5-year return | +41.3% | +332.8% |
| Volatility (ann.) | 44.8% | 33.7% |
| Beta vs S&P 500 | 1.74 | 1.91 |
| Max drawdown (3Y) | -64.7% | -35.7% |
| Market cap | $2.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | COHU | SMH |
|---|---|---|
| 2022 | -15.9% | -33.5% |
| 2023 | +10.4% | +73.4% |
| 2024 | -24.6% | +39.1% |
| 2025 | -12.8% | +49.2% |
| 2026 | +122.1% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COHU and SMH good diversifiers for each other?
Only partially. A correlation of 0.72 means COHU and SMH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between COHU and SMH?
Using weekly returns as of 2026-08-27: 0.72 over 3 years, with 0.75 over the last year and 0.76 over 5 years.
Is SMH a good diversifier for COHU?
Only partially. A correlation of 0.72 means COHU and SMH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 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/cohu-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cohu-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: COHU correlations · SMH correlations
