INTC vs SMH: Correlation
How closely do Intel (INTC) and VanEck Semiconductor ETF (SMH) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INTC and SMH?
On 3 years of weekly data the INTC/SMH correlation comes out at 0.59, moderate. The past 12 months show a tighter link (0.74) than the 3-year average (0.59). The 5-year figure is 0.57, and annualized covariance runs at 1243.6 %².
By 3-year correlation, SMH places #4 of the 37 assets tracked against INTC. The last year tells two different stories: INTC led by 177.5 percentage points, +270.6% for INTC against +93.1% for SMH. On a rolling one-year basis the correlation drifted between 0.37 and 0.70, a moderate band. Risk is not evenly split, since INTC carries 1.9 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.
INTC vs SMH: side by side
| INTC (Intel) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | +270.6% | +93.1% |
| 5-year return | +85.4% | +332.8% |
| Volatility (ann.) | 63.0% | 33.7% |
| Beta vs S&P 500 | 2.01 | 1.91 |
| Max drawdown (3Y) | -63.8% | -35.7% |
| Market cap | $486.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | Information Technology | ETF · Thematic |
Year-by-year returns
| Year | INTC | SMH |
|---|---|---|
| 2022 | -46.6% | -33.5% |
| 2023 | +94.6% | +73.4% |
| 2024 | -59.6% | +39.1% |
| 2025 | +84.0% | +49.2% |
| 2026 | +149.6% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INTC and SMH good diversifiers for each other?
To a limited degree. At 0.59 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 INTC and SMH?
As of 2026-08-27, the correlation of weekly returns between INTC and SMH is 0.59 over 3 years, 0.74 over 1 year and 0.57 over 5 years.
Is SMH a good diversifier for INTC?
To a limited degree. At 0.59 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 0.59 mean?
A reading of 0.59 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/intc-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/intc-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: INTC correlations · SMH correlations
