MU vs SMH: Correlation
Measured on weekly returns over the past three years, Micron Technology (MU) and VanEck Semiconductor ETF (SMH) carry a correlation of 0.75, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MU and SMH?
On 3 years of weekly data the MU/SMH correlation comes out at 0.75, strong. Recent behaviour matches the longer record: 0.72 over 1 year against 0.75 over 3. The 5-year figure is 0.73, and annualized covariance runs at 1592.3 %².
In MU's tracked universe of 32 assets, SMH sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months MU outperformed by 602.6 percentage points (+695.7% for MU against +93.1% for SMH). Stability stands out here, with the rolling one-year correlation confined to 0.64 through 0.84. Note the risk asymmetry: MU runs 1.9 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.
MU vs SMH: side by side
| MU (Micron Technology) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | +695.7% | +93.1% |
| 5-year return | +1211.2% | +332.8% |
| Volatility (ann.) | 63.3% | 33.7% |
| Beta vs S&P 500 | 2.47 | 1.91 |
| Max drawdown (3Y) | -57.6% | -35.7% |
| Market cap | – | – |
| P/E (trailing) | 21.2 | – |
| Dividend yield | 0.06% | – |
| Sector / category | Information Technology | ETF · Thematic |
Year-by-year returns
| Year | MU | SMH |
|---|---|---|
| 2022 | -45.9% | -33.5% |
| 2023 | +71.9% | +73.4% |
| 2024 | -1.0% | +39.1% |
| 2025 | +240.2% | +49.2% |
| 2026 | +227.9% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MU and SMH good diversifiers for each other?
To a limited degree. At 0.75 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MU and SMH?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.72 over the last year and 0.73 over 5 years.
Is SMH a good diversifier for MU?
To a limited degree. At 0.75 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.75 mean?
On the −1 to +1 scale, 0.75 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/mu-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mu-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MU correlations · SMH correlations
