NTGR vs SMMT: Correlation
NETGEAR, Inc. (NTGR) and Summit Therapeutics Inc. (SMMT) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTGR and SMMT?
Over the past 3 years, NTGR and SMMT moved with a correlation of 0.42, which is moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.42 over 3. Over 5 years the correlation is 0.18, and the annualized covariance of weekly returns is 3252.1 %².
Within NTGR's tracked universe of 11 assets, SMMT comes in at #4 by 3-year correlation. The last year tells two different stories: NTGR led by 23.2 percentage points, -19.0% for NTGR against -42.2% for SMMT. Risk is not evenly split, since SMMT carries 2.9 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.
NTGR vs SMMT: side by side
| NTGR (NETGEAR, Inc.) | SMMT (Summit Therapeutics Inc.) | |
|---|---|---|
| 1-year return | -19.0% | -42.2% |
| 5-year return | -38.5% | +78.5% |
| Volatility (ann.) | 51.4% | 150.4% |
| Beta vs S&P 500 | 1.43 | 2.43 |
| Max drawdown (3Y) | -44.8% | -66.1% |
| Market cap | $0.6B | $11.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NTGR | SMMT |
|---|---|---|
| 2022 | -38.0% | +58.0% |
| 2023 | -19.5% | -38.6% |
| 2024 | +91.2% | +583.7% |
| 2025 | -12.0% | -2.0% |
| 2026 | -10.4% | -18.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTGR and SMMT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NTGR and SMMT?
As of 2026-08-27, the correlation of weekly returns between NTGR and SMMT is 0.42 over 3 years, 0.44 over 1 year and 0.18 over 5 years.
Is SMMT a good diversifier for NTGR?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 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.
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Related comparisons
Hubs: NTGR correlations · SMMT correlations
