CORZ vs SMH: Correlation
Measured on weekly returns over the past three years, Core Scientific, Inc. (CORZ) and VanEck Semiconductor ETF (SMH) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CORZ and SMH?
Across a 3-year window, the weekly returns of CORZ and SMH correlate at 0.55, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.68 versus 0.55 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of 1717.6 %².
Within CORZ's tracked universe of 19 assets, SMH comes in at #4 by 3-year correlation. The last year tells two different stories: SMH led by 69.0 percentage points, +24.1% for CORZ against +93.1% for SMH. One caveat on sizing: CORZ is 2.7 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.
CORZ vs SMH: side by side
| CORZ (Core Scientific, Inc.) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | +24.1% | +93.1% |
| 5-year return | n/a | +332.8% |
| Volatility (ann.) | 89.6% | 33.7% |
| Beta vs S&P 500 | 2.71 | 1.91 |
| Max drawdown (3Y) | -64.9% | -35.7% |
| Market cap | $5.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | CORZ | SMH |
|---|---|---|
| 2022 | – | -33.5% |
| 2023 | – | +73.4% |
| 2024 | – | +39.1% |
| 2025 | +3.6% | +49.2% |
| 2026 | +21.0% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CORZ and SMH good diversifiers for each other?
Only partially. A correlation of 0.55 means CORZ 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 CORZ and SMH?
As of 2026-08-27, the correlation of weekly returns between CORZ and SMH is 0.55 over 3 years, 0.68 over 1 year and n/a over 5 years.
Is SMH a good diversifier for CORZ?
Only partially. A correlation of 0.55 means CORZ 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 0.55 mean?
A reading of 0.55 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/corz-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/corz-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CORZ correlations · SMH correlations
