MKSI vs SMH: Correlation
How closely do MKS Inc. (MKSI) and VanEck Semiconductor ETF (SMH) trade together? Their weekly returns over three years give a correlation of 0.81, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MKSI and SMH?
On 3 years of weekly data the MKSI/SMH correlation comes out at 0.81, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.74) sits close to the 3-year figure. The 5-year figure is 0.81, and annualized covariance runs at 1385.6 %².
Few assets follow MKSI as closely as SMH, which ranks #3 of 41 tracked partners. Their recent paths diverged sharply: over the last 12 months MKSI outperformed by 64.4 percentage points (+157.5% for MKSI against +93.1% for SMH). Risk is not evenly split, since MKSI carries 1.5 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.
MKSI vs SMH: side by side
| MKSI (MKS Inc.) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | +157.5% | +93.1% |
| 5-year return | +88.2% | +332.8% |
| Volatility (ann.) | 50.8% | 33.7% |
| Beta vs S&P 500 | 2.39 | 1.91 |
| Max drawdown (3Y) | -59.1% | -35.7% |
| Market cap | $18.3B | – |
| P/E (trailing) | 43.3 | – |
| Dividend yield | 0.35% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | MKSI | SMH |
|---|---|---|
| 2022 | -51.0% | -33.5% |
| 2023 | +22.6% | +73.4% |
| 2024 | +2.2% | +39.1% |
| 2025 | +54.4% | +49.2% |
| 2026 | +70.0% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MKSI and SMH good diversifiers for each other?
No. With a correlation of 0.81, MKSI and SMH move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between MKSI and SMH?
Using weekly returns as of 2026-08-27: 0.81 over 3 years, with 0.74 over the last year and 0.81 over 5 years.
Is SMH a good diversifier for MKSI?
No. With a correlation of 0.81, MKSI and SMH move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.81 mean?
A reading of 0.81 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/mksi-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mksi-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MKSI correlations · SMH correlations
