PD vs SMX: Correlation
How closely do PagerDuty, Inc. (PD) and SMX (Security Matters) Public Limited Company (SMX) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PD and SMX?
Over the past 3 years, PD and SMX moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -9623.4 %².
SMX is close to the least connected end of PD's tracked universe, ranking #14 of 17. Their recent paths diverged sharply: over the last 12 months PD outperformed by 70.7 percentage points (-25.5% for PD against -96.2% for SMX). Risk is not evenly split, since SMX carries 16.4 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.
PD vs SMX: side by side
| PD (PagerDuty, Inc.) | SMX (SMX (Security Matters) Public Limited Company) | |
|---|---|---|
| 1-year return | -25.5% | -96.2% |
| 5-year return | -70.4% | -100.0% |
| Volatility (ann.) | 52.9% | 869.6% |
| Beta vs S&P 500 | 1.44 | 6.86 |
| Max drawdown (3Y) | -78.4% | -100.0% |
| Market cap | $1.0B | – |
| P/E (trailing) | 5.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PD | SMX |
|---|---|---|
| 2022 | -23.6% | +3.5% |
| 2023 | -12.8% | -99.7% |
| 2024 | -21.1% | -98.9% |
| 2025 | -28.2% | -99.7% |
| 2026 | -3.7% | -90.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PD and SMX good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PD and SMX?
The PD/SMX correlation stands at -0.21 on a 3-year window (1 year: -0.28, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is SMX a good diversifier for PD?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 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/pd-vs-smx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pd-vs-smx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PD correlations · SMX correlations
