CTRE vs SMSI: Correlation
CareTrust REIT, Inc. (CTRE) and Smith Micro Software, Inc. (SMSI) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTRE and SMSI?
On 3 years of weekly data the CTRE/SMSI correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.06) runs above the 3-year figure (-0.26). The 5-year figure is -0.07, and annualized covariance runs at -516.9 %².
Out of 11 assets tracked against CTRE, SMSI lands near the bottom at #10. The last year tells two different stories: CTRE led by 37.2 percentage points, +18.3% for CTRE against -18.9% for SMSI. Risk is not evenly split, since SMSI carries 4.5 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.
CTRE vs SMSI: side by side
| CTRE (CareTrust REIT, Inc.) | SMSI (Smith Micro Software, Inc.) | |
|---|---|---|
| 1-year return | +18.3% | -18.9% |
| 5-year return | +130.3% | -98.5% |
| Volatility (ann.) | 21.1% | 94.7% |
| Beta vs S&P 500 | 0.18 | 0.95 |
| Max drawdown (3Y) | -23.2% | -96.8% |
| Market cap | $9.3B | – |
| P/E (trailing) | 24.9 | – |
| Dividend yield | 3.63% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTRE | SMSI |
|---|---|---|
| 2022 | -13.7% | -57.3% |
| 2023 | +27.3% | -60.5% |
| 2024 | +26.3% | -80.3% |
| 2025 | +39.4% | -58.8% |
| 2026 | +11.1% | +9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTRE and SMSI good diversifiers for each other?
Yes. With a correlation of -0.26, CTRE and SMSI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CTRE and SMSI?
As of 2026-08-27, the correlation of weekly returns between CTRE and SMSI is -0.26 over 3 years, -0.06 over 1 year and -0.07 over 5 years.
Is SMSI a good diversifier for CTRE?
Yes. With a correlation of -0.26, CTRE and SMSI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 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/ctre-vs-smsi.json
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[](https://www.pairbook.io/pair/ctre-vs-smsi/)
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Related comparisons
Hubs: CTRE correlations · SMSI correlations
