DELL vs SMCI: Correlation
Dell Technologies (DELL) and Supermicro (SMCI) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DELL and SMCI?
Over the past 3 years, DELL and SMCI moved with a correlation of 0.48, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.67 versus 0.48 over 3 years. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 3182.8 %².
Among the 29 assets we track against DELL, SMCI ranks #17 by 3-year correlation. The last year tells two different stories: DELL led by 275.1 percentage points, +261.0% for DELL against -14.1% for SMCI. This link changes with the market regime, having swung between 0.08 and 0.70 on a rolling one-year basis. One caveat on sizing: SMCI is 1.7 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.
DELL vs SMCI: side by side
| DELL (Dell Technologies) | SMCI (Supermicro) | |
|---|---|---|
| 1-year return | +261.0% | -14.1% |
| 5-year return | +945.0% | +983.4% |
| Volatility (ann.) | 61.3% | 107.1% |
| Beta vs S&P 500 | 2.02 | 3.08 |
| Max drawdown (3Y) | -59.6% | -84.8% |
| Market cap | $305.1B | $24.9B |
| P/E (trailing) | 36.9 | 11.5 |
| Dividend yield | 0.48% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | DELL | SMCI |
|---|---|---|
| 2022 | -26.6% | +86.8% |
| 2023 | +95.9% | +246.2% |
| 2024 | +53.0% | +7.2% |
| 2025 | +11.2% | -4.0% |
| 2026 | +278.6% | +31.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DELL and SMCI good diversifiers for each other?
Reasonably. At 0.48, DELL and SMCI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DELL and SMCI?
As of 2026-08-27, the correlation of weekly returns between DELL and SMCI is 0.48 over 3 years, 0.67 over 1 year and 0.44 over 5 years.
Is SMCI a good diversifier for DELL?
Reasonably. At 0.48, DELL and SMCI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 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/dell-vs-smci.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dell-vs-smci/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DELL correlations · SMCI correlations
