CRDO vs SMH: Correlation
How closely do Credo Technology Group Holding Ltd (CRDO) and VanEck Semiconductor ETF (SMH) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRDO and SMH?
On 3 years of weekly data the CRDO/SMH correlation comes out at 0.68, strong. Little has changed lately, as the 1-year reading of 0.73 lands near the 3-year figure. The 5-year figure is 0.59, and annualized covariance runs at 1940.5 %².
Few assets follow CRDO as closely as SMH, which ranks #3 of 20 tracked partners. Their 12-month results are close: +95.7% for CRDO against +93.1% for SMH. One caveat on sizing: CRDO is 2.5 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.
CRDO vs SMH: side by side
| CRDO (Credo Technology Group Holding Ltd) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | +95.7% | +93.1% |
| 5-year return | +1962.1% | +332.8% |
| Volatility (ann.) | 84.8% | 33.7% |
| Beta vs S&P 500 | 3.44 | 1.91 |
| Max drawdown (3Y) | -61.1% | -35.7% |
| Market cap | $45.1B | – |
| P/E (trailing) | 90.0 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | CRDO | SMH |
|---|---|---|
| 2022 | – | -33.5% |
| 2023 | +46.3% | +73.4% |
| 2024 | +245.2% | +39.1% |
| 2025 | +114.1% | +49.2% |
| 2026 | +67.0% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRDO and SMH good diversifiers for each other?
To a limited degree. At 0.68 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CRDO and SMH?
As of 2026-08-27, the correlation of weekly returns between CRDO and SMH is 0.68 over 3 years, 0.73 over 1 year and 0.59 over 5 years.
Is SMH a good diversifier for CRDO?
To a limited degree. At 0.68 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.68 mean?
A reading of 0.68 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/crdo-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crdo-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CRDO correlations · SMH correlations
