QCOM vs SMH: Correlation
Measured on weekly returns over the past three years, Qualcomm (QCOM) and VanEck Semiconductor ETF (SMH) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QCOM and SMH?
Across a 3-year window, the weekly returns of QCOM and SMH correlate at 0.71, strong. The relationship has been stable: the 1-year correlation (0.67) sits close to the 3-year figure. Stretching to 5 years gives 0.73, with an annualized covariance of 1008.3 %².
Few assets follow QCOM as closely as SMH, which ranks #1 of 41 tracked partners. Their recent paths diverged sharply: over the last 12 months SMH outperformed by 87.8 percentage points (+5.3% for QCOM against +93.1% for SMH). Across three years, the rolling one-year figure varied moderately, from 0.54 to 0.85.
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.
QCOM vs SMH: side by side
| QCOM (Qualcomm) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | +5.3% | +93.1% |
| 5-year return | +25.8% | +332.8% |
| Volatility (ann.) | 42.4% | 33.7% |
| Beta vs S&P 500 | 1.77 | 1.91 |
| Max drawdown (3Y) | -44.2% | -35.7% |
| Market cap | $176.0B | – |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 2.19% | – |
| Sector / category | Information Technology | ETF · Thematic |
Year-by-year returns
| Year | QCOM | SMH |
|---|---|---|
| 2022 | -38.6% | -33.5% |
| 2023 | +35.1% | +73.4% |
| 2024 | +8.3% | +39.1% |
| 2025 | +13.8% | +49.2% |
| 2026 | -2.7% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QCOM and SMH good diversifiers for each other?
Only partially. A correlation of 0.71 means QCOM 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 QCOM and SMH?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.67 over the last year and 0.73 over 5 years.
Is SMH a good diversifier for QCOM?
Only partially. A correlation of 0.71 means QCOM 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 0.71 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/qcom-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qcom-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QCOM correlations · SMH correlations
