JETS vs SMH: Correlation
Measured on weekly returns over the past three years, US Global Jets ETF (JETS) and VanEck Semiconductor ETF (SMH) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JETS and SMH?
Over the past 3 years, JETS and SMH moved with a correlation of 0.42, which is moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.42 over 3. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 416.4 %².
Among the 54 assets we track against JETS, SMH ranks #41 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SMH outperformed by 79.9 percentage points (+13.2% for JETS against +93.1% for SMH). The rolling one-year correlation moved between 0.15 and 0.61 over the past three years, a moderate range.
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.
JETS vs SMH: side by side
| JETS (US Global Jets ETF) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | +13.2% | +93.1% |
| 5-year return | +30.9% | +332.8% |
| Volatility (ann.) | 29.2% | 33.7% |
| Beta vs S&P 500 | 1.16 | 1.91 |
| Max drawdown (3Y) | -35.2% | -35.7% |
| Sector / category | ETF · Thematic | ETF · Thematic |
Year-by-year returns
| Year | JETS | SMH |
|---|---|---|
| 2022 | -19.0% | -33.5% |
| 2023 | +11.4% | +73.4% |
| 2024 | +33.2% | +39.1% |
| 2025 | +11.6% | +49.2% |
| 2026 | +4.6% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JETS and SMH good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between JETS and SMH?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.40 over the last year and 0.48 over 5 years.
Is SMH a good diversifier for JETS?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
A reading of 0.42 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/jets-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jets-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: JETS correlations · SMH correlations
