MSI vs SHMD: Correlation
Measured on weekly returns over the past three years, Motorola Solutions (MSI) and SCHMID Group N.V. - Class A (SHMD) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSI and SHMD?
Over the past 3 years, MSI and SHMD moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.17 over 1 year against -0.23 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -523.0 %².
Among the 32 assets we track against MSI, SHMD ranks #26 by 3-year correlation. The last year tells two different stories: SHMD led by 22.9 percentage points, +5.9% for MSI against +28.8% for SHMD. Note the risk asymmetry: SHMD runs 4.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MSI vs SHMD: side by side
| MSI (Motorola Solutions) | SHMD (SCHMID Group N.V. - Class A) | |
|---|---|---|
| 1-year return | +5.9% | +28.8% |
| 5-year return | +111.1% | n/a |
| Volatility (ann.) | 22.1% | 96.9% |
| Beta vs S&P 500 | 0.61 | 0.77 |
| Max drawdown (3Y) | -27.0% | -69.6% |
| Market cap | $80.5B | $0.2B |
| P/E (trailing) | 38.5 | – |
| Dividend yield | 0.97% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | MSI | SHMD |
|---|---|---|
| 2022 | -3.8% | – |
| 2023 | +23.0% | – |
| 2024 | +49.1% | – |
| 2025 | -16.2% | +101.1% |
| 2026 | +27.6% | -45.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSI and SHMD good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between MSI and SHMD?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.17 over the last year and n/a over 5 years.
Is SHMD a good diversifier for MSI?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/msi-vs-shmd.json
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Related comparisons
Hubs: MSI correlations · SHMD correlations
