PPC vs SMH: Correlation
How closely do Pilgrim's Pride Corporation (PPC) and VanEck Semiconductor ETF (SMH) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PPC and SMH?
Across a 3-year window, the weekly returns of PPC and SMH correlate at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.35) than the 3-year average (-0.20). Stretching to 5 years gives -0.02, with an annualized covariance of -199.7 %².
Within PPC's tracked universe of 23 assets, SMH comes in at #11 by 3-year correlation. The last year tells two different stories: SMH led by 123.9 percentage points, -30.8% for PPC against +93.1% for SMH.
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.
PPC vs SMH: side by side
| PPC (Pilgrim's Pride Corporation) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | -30.8% | +93.1% |
| 5-year return | +32.4% | +332.8% |
| Volatility (ann.) | 30.3% | 33.7% |
| Beta vs S&P 500 | -0.17 | 1.91 |
| Max drawdown (3Y) | -49.2% | -35.7% |
| Market cap | $7.4B | – |
| P/E (trailing) | 13.6 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | PPC | SMH |
|---|---|---|
| 2022 | -15.9% | -33.5% |
| 2023 | +16.6% | +73.4% |
| 2024 | +64.1% | +39.1% |
| 2025 | +1.4% | +49.2% |
| 2026 | -20.2% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PPC and SMH good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PPC and SMH?
As of 2026-08-27, the correlation of weekly returns between PPC and SMH is -0.20 over 3 years, -0.35 over 1 year and -0.02 over 5 years.
Is SMH a good diversifier for PPC?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 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/ppc-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ppc-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PPC correlations · SMH correlations
