NVDA vs SOXX: Correlation
How closely do Nvidia (NVDA) and iShares Semiconductor ETF (SOXX) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVDA and SOXX?
On 3 years of weekly data the NVDA/SOXX correlation comes out at 0.70, strong. The link has loosened recently: the 1-year correlation (0.56) runs below the 3-year figure (0.70). The 5-year figure is 0.77, and annualized covariance runs at 1101.2 %².
Within NVDA's tracked universe of 37 assets, SOXX comes in at #13 by 3-year correlation. The last year tells two different stories: SOXX led by 84.3 percentage points, +25.7% for NVDA against +110.0% for SOXX. Across three years, the rolling one-year figure varied moderately, from 0.48 to 0.83.
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.
NVDA vs SOXX: side by side
| NVDA (Nvidia) | SOXX (iShares Semiconductor ETF) | |
|---|---|---|
| 1-year return | +25.7% | +110.0% |
| 5-year return | +908.3% | +247.5% |
| Volatility (ann.) | 44.5% | 35.2% |
| Beta vs S&P 500 | 2.18 | 1.93 |
| Max drawdown (3Y) | -36.9% | -41.4% |
| Market cap | $5,505.0B | – |
| P/E (trailing) | 32.2 | – |
| Dividend yield | 0.00% | 0.29% |
| Expense ratio | – | 0.33% |
| Assets under management | – | $44.7B |
| Sector / category | Information Technology | ETF · Thematic |
On the fund side, SOXX sits in the Technology category at iShares, with $44.7B under management, 30 holdings, a 0.33% expense ratio, a 0.29% trailing dividend yield.
Year-by-year returns
| Year | NVDA | SOXX |
|---|---|---|
| 2022 | -50.3% | -35.1% |
| 2023 | +239.0% | +67.1% |
| 2024 | +171.2% | +12.9% |
| 2025 | +38.9% | +40.7% |
| 2026 | +22.4% | +74.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
NVDA represents 8.87% of SOXX's portfolio, so part of any move in SOXX is NVDA itself, and the correlation between them is partly mechanical.
Are NVDA and SOXX good diversifiers for each other?
Only partially. A correlation of 0.70 means NVDA and SOXX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between NVDA and SOXX?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.56 over the last year and 0.77 over 5 years.
Is SOXX a good diversifier for NVDA?
Only partially. A correlation of 0.70 means NVDA and SOXX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 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/nvda-vs-soxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nvda-vs-soxx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NVDA correlations · SOXX correlations
