SGHC vs SMBK: Correlation
Measured on weekly returns over the past three years, Super Group (SGHC) Limited (SGHC) and SmartFinancial, Inc. (SMBK) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SGHC and SMBK?
On 3 years of weekly data the SGHC/SMBK correlation comes out at 0.44, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.10 versus 0.44 over 3 years. The 5-year figure is 0.28, and annualized covariance runs at 623.5 %².
By 3-year correlation, SMBK places #5 of the 10 assets tracked against SGHC. The last year tells two different stories: SMBK led by 22.7 percentage points, +14.9% for SGHC against +37.6% for SMBK. Risk is not evenly split, since SGHC 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.
SGHC vs SMBK: side by side
| SGHC (Super Group (SGHC) Limited) | SMBK (SmartFinancial, Inc.) | |
|---|---|---|
| 1-year return | +14.9% | +37.6% |
| 5-year return | +49.1% | +113.7% |
| Volatility (ann.) | 49.2% | 28.9% |
| Beta vs S&P 500 | 1.19 | 0.84 |
| Max drawdown (3Y) | -39.5% | -26.4% |
| Market cap | $7.0B | $0.9B |
| P/E (trailing) | 19.2 | 14.9 |
| Dividend yield | 1.22% | 0.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SGHC | SMBK |
|---|---|---|
| 2022 | -69.8% | +1.6% |
| 2023 | +5.7% | -9.7% |
| 2024 | +107.7% | +28.1% |
| 2025 | +93.7% | +20.5% |
| 2026 | +16.7% | +37.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SGHC and SMBK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SGHC and SMBK?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with -0.10 over the last year and 0.28 over 5 years.
Is SMBK a good diversifier for SGHC?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: SGHC correlations · SMBK correlations
