P vs SMH: Correlation
Measured on weekly returns over the past three years, Everpure, Inc. (P) and VanEck Semiconductor ETF (SMH) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are P and SMH?
On 3 years of weekly data the P/SMH correlation comes out at 0.56, moderate. The link has loosened recently: the 1-year correlation (0.44) runs below the 3-year figure (0.56). The 5-year figure is 0.53, and annualized covariance runs at 1111.3 %².
Among the 10 assets we track against P, SMH ranks #5 by 3-year correlation. The last year tells two different stories: SMH led by 30.0 percentage points, +63.1% for P against +93.1% for SMH. Risk is not evenly split, since P carries 1.7 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.
P vs SMH: side by side
| P (Everpure, Inc.) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | +63.1% | +93.1% |
| 5-year return | +288.3% | +332.8% |
| Volatility (ann.) | 58.7% | 33.7% |
| Beta vs S&P 500 | 2.05 | 1.91 |
| Max drawdown (3Y) | -48.6% | -35.7% |
| Market cap | – | – |
| P/E (trailing) | 135.9 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | P | SMH |
|---|---|---|
| 2022 | -17.8% | -33.5% |
| 2023 | +33.3% | +73.4% |
| 2024 | +72.3% | +39.1% |
| 2025 | +9.1% | +49.2% |
| 2026 | +48.1% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are P and SMH good diversifiers for each other?
Only partially. A correlation of 0.56 means P and SMH 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 P and SMH?
Using weekly returns as of 2026-08-27: 0.56 over 3 years, with 0.44 over the last year and 0.53 over 5 years.
Is SMH a good diversifier for P?
Only partially. A correlation of 0.56 means P and SMH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 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/p-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/p-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: P correlations · SMH correlations
