RMNI vs SMHB: Correlation
Measured on weekly returns over the past three years, Rimini Street, Inc. (RMNI) and ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN (SMHB) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RMNI and SMHB?
On 3 years of weekly data the RMNI/SMHB correlation comes out at 0.39, moderate. The past 12 months show a tighter link (0.51) than the 3-year average (0.39). The 5-year figure is 0.31, and annualized covariance runs at 919.3 %².
Within RMNI's tracked universe of 10 assets, SMHB comes in at #5 by 3-year correlation. The last year tells two different stories: RMNI led by 20.2 percentage points, +27.6% for RMNI against +7.4% for SMHB. Risk is not evenly split, since RMNI carries 1.5 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.
RMNI vs SMHB: side by side
| RMNI (Rimini Street, Inc.) | SMHB (ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN) | |
|---|---|---|
| 1-year return | +27.6% | +7.4% |
| 5-year return | -42.9% | -13.5% |
| Volatility (ann.) | 59.7% | 39.3% |
| Beta vs S&P 500 | 1.19 | 1.42 |
| Max drawdown (3Y) | -53.5% | -45.0% |
| Market cap | $0.5B | – |
| P/E (trailing) | 76.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RMNI | SMHB |
|---|---|---|
| 2022 | -36.2% | -36.0% |
| 2023 | -14.2% | +36.0% |
| 2024 | -18.3% | -15.8% |
| 2025 | +45.3% | -7.7% |
| 2026 | +38.4% | +22.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RMNI and SMHB good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between RMNI and SMHB?
The RMNI/SMHB correlation stands at 0.39 on a 3-year window (1 year: 0.51, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is SMHB a good diversifier for RMNI?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 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/rmni-vs-smhb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rmni-vs-smhb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RMNI correlations · SMHB correlations
