OPRT vs SMHB: Correlation
Measured on weekly returns over the past three years, Oportun Financial Corporation (OPRT) and ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN (SMHB) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OPRT and SMHB?
Across a 3-year window, the weekly returns of OPRT and SMHB correlate at 0.46, moderate. The link has tightened recently: the 1-year correlation (0.56) runs above the 3-year figure (0.46). Stretching to 5 years gives 0.47, with an annualized covariance of 1501.3 %².
Few assets follow OPRT as closely as SMHB, which ranks #3 of 11 tracked partners. On 12-month performance OPRT holds a 7.0-point edge, +14.4% against +7.4%. One caveat on sizing: OPRT is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
OPRT vs SMHB: side by side
| OPRT (Oportun Financial Corporation) | SMHB (ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN) | |
|---|---|---|
| 1-year return | +14.4% | +7.4% |
| 5-year return | -69.9% | -13.5% |
| Volatility (ann.) | 83.4% | 39.3% |
| Beta vs S&P 500 | 1.77 | 1.42 |
| Max drawdown (3Y) | -72.0% | -45.0% |
| Market cap | $0.3B | – |
| P/E (trailing) | 18.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OPRT | SMHB |
|---|---|---|
| 2022 | -72.8% | -36.0% |
| 2023 | -29.0% | +36.0% |
| 2024 | -0.8% | -15.8% |
| 2025 | +36.3% | -7.7% |
| 2026 | +41.4% | +22.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OPRT and SMHB good diversifiers for each other?
Reasonably. At 0.46, OPRT and SMHB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between OPRT and SMHB?
The OPRT/SMHB correlation stands at 0.46 on a 3-year window (1 year: 0.56, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is SMHB a good diversifier for OPRT?
Reasonably. At 0.46, OPRT and SMHB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/oprt-vs-smhb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/oprt-vs-smhb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OPRT correlations · SMHB correlations
