CSTE vs SMX: Correlation
Measured on weekly returns over the past three years, Caesarstone Ltd. (CSTE) and SMX (Security Matters) Public Limited Company (SMX) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSTE and SMX?
On 3 years of weekly data the CSTE/SMX correlation comes out at 0.45, moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. The 5-year figure is 0.42, and annualized covariance runs at 39188.1 %².
SMX is one of the assets that tracks CSTE most closely: it ranks #1 out of the 11 assets we track against CSTE. The last year tells two different stories: CSTE led by 213.1 percentage points, +116.9% for CSTE against -96.2% for SMX. Risk is not evenly split, since SMX carries 8.7 times the volatility of the other side.
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.
CSTE vs SMX: side by side
| CSTE (Caesarstone Ltd.) | SMX (SMX (Security Matters) Public Limited Company) | |
|---|---|---|
| 1-year return | +116.9% | -96.2% |
| 5-year return | -74.8% | -100.0% |
| Volatility (ann.) | 100.4% | 869.6% |
| Beta vs S&P 500 | 1.27 | 6.86 |
| Max drawdown (3Y) | -90.8% | -100.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSTE | SMX |
|---|---|---|
| 2022 | -48.4% | +3.5% |
| 2023 | -34.5% | -99.7% |
| 2024 | +13.6% | -98.9% |
| 2025 | -56.2% | -99.7% |
| 2026 | +72.6% | -90.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSTE and SMX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CSTE and SMX?
As of 2026-08-27, the correlation of weekly returns between CSTE and SMX is 0.45 over 3 years, 0.48 over 1 year and 0.42 over 5 years.
Is SMX a good diversifier for CSTE?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cste-vs-smx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cste-vs-smx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CSTE correlations · SMX correlations
