MTSI vs SMH: Correlation
MACOM Technology Solutions Holdings, Inc. (MTSI) and VanEck Semiconductor ETF (SMH) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTSI and SMH?
Across a 3-year window, the weekly returns of MTSI and SMH correlate at 0.66, strong. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Stretching to 5 years gives 0.69, with an annualized covariance of 1084.1 %².
In MTSI's tracked universe of 17 assets, SMH sits right near the top at #3. Correlation aside, the last 12 months split them widely, with MTSI ahead by 20.7 points (+113.8% versus +93.1%).
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.
MTSI vs SMH: side by side
| MTSI (MACOM Technology Solutions Holdings, Inc.) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | +113.8% | +93.1% |
| 5-year return | +341.3% | +332.8% |
| Volatility (ann.) | 48.7% | 33.7% |
| Beta vs S&P 500 | 1.65 | 1.91 |
| Max drawdown (3Y) | -44.2% | -35.7% |
| Market cap | $21.2B | – |
| P/E (trailing) | 88.3 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | MTSI | SMH |
|---|---|---|
| 2022 | -19.6% | -33.5% |
| 2023 | +47.6% | +73.4% |
| 2024 | +39.8% | +39.1% |
| 2025 | +31.8% | +49.2% |
| 2026 | +61.8% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTSI and SMH good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MTSI and SMH?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.64 over the last year and 0.69 over 5 years.
Is SMH a good diversifier for MTSI?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 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/mtsi-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mtsi-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MTSI correlations · SMH correlations
