MACI vs SMH: Correlation
How closely do Melar Acquisition Corp. I - Class A (MACI) and VanEck Semiconductor ETF (SMH) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MACI and SMH?
Across a 3-year window, the weekly returns of MACI and SMH correlate at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.35) than the 3-year average (-0.21). Stretching to 5 years gives n/a, with an annualized covariance of -15.6 %².
By 3-year correlation, SMH places #47 of the 71 assets tracked against MACI. The last year tells two different stories: SMH led by 88.7 percentage points, +4.4% for MACI against +93.1% for SMH. One caveat on sizing: SMH is 16.0 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.
MACI vs SMH: side by side
| MACI (Melar Acquisition Corp. I - Class A) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | +4.4% | +93.1% |
| 5-year return | n/a | +332.8% |
| Volatility (ann.) | 2.1% | 33.7% |
| Beta vs S&P 500 | -0.03 | 1.91 |
| Max drawdown (3Y) | -2.0% | -35.7% |
| Market cap | $0.2B | – |
| P/E (trailing) | 60.9 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | MACI | SMH |
|---|---|---|
| 2022 | – | -33.5% |
| 2023 | – | +73.4% |
| 2024 | – | +39.1% |
| 2025 | +5.7% | +49.2% |
| 2026 | +3.1% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MACI and SMH good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between MACI and SMH?
The MACI/SMH correlation stands at -0.21 on a 3-year window (1 year: -0.35, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SMH a good diversifier for MACI?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 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/maci-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/maci-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MACI correlations · SMH correlations
