JBL vs SMH: Correlation
Measured on weekly returns over the past three years, Jabil (JBL) and VanEck Semiconductor ETF (SMH) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBL and SMH?
Across a 3-year window, the weekly returns of JBL and SMH correlate at 0.63, strong. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Stretching to 5 years gives 0.65, with an annualized covariance of 862.2 %².
Among the 34 assets we track against JBL, SMH ranks #4 by 3-year correlation. The last year tells two different stories: SMH led by 42.7 percentage points, +50.4% for JBL against +93.1% for SMH. Across three years, the rolling one-year figure varied moderately, from 0.50 to 0.79.
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.
JBL vs SMH: side by side
| JBL (Jabil) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | +50.4% | +93.1% |
| 5-year return | +405.5% | +332.8% |
| Volatility (ann.) | 40.6% | 33.7% |
| Beta vs S&P 500 | 1.47 | 1.91 |
| Max drawdown (3Y) | -36.8% | -35.7% |
| Market cap | $32.7B | – |
| P/E (trailing) | 38.9 | – |
| Dividend yield | 0.10% | – |
| Sector / category | Information Technology | ETF · Thematic |
Year-by-year returns
| Year | JBL | SMH |
|---|---|---|
| 2022 | -2.5% | -33.5% |
| 2023 | +87.4% | +73.4% |
| 2024 | +13.3% | +39.1% |
| 2025 | +58.7% | +49.2% |
| 2026 | +37.0% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBL and SMH good diversifiers for each other?
Only partially. A correlation of 0.63 means JBL and SMH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between JBL and SMH?
The JBL/SMH correlation stands at 0.63 on a 3-year window (1 year: 0.64, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is SMH a good diversifier for JBL?
Only partially. A correlation of 0.63 means JBL and SMH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 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/jbl-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jbl-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: JBL correlations · SMH correlations
