SHMD vs TTI: Correlation
How closely do SCHMID Group N.V. - Class A (SHMD) and Tetra Technologies, Inc. (TTI) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SHMD and TTI?
Over the past 3 years, SHMD and TTI moved with a correlation of 0.34, which is moderate. The past 12 months show a tighter link (0.56) than the 3-year average (0.34). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 2029.0 %².
Within SHMD's tracked universe of 21 assets, TTI comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TTI ahead by 24.9 points (+28.8% versus +53.7%). One caveat on sizing: SHMD is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
SHMD vs TTI: side by side
| SHMD (SCHMID Group N.V. - Class A) | TTI (Tetra Technologies, Inc.) | |
|---|---|---|
| 1-year return | +28.8% | +53.7% |
| 5-year return | n/a | +123.5% |
| Volatility (ann.) | 96.9% | 59.6% |
| Beta vs S&P 500 | 0.77 | 0.96 |
| Max drawdown (3Y) | -69.6% | -67.4% |
| Market cap | $0.2B | $1.0B |
| P/E (trailing) | – | 173.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SHMD | TTI |
|---|---|---|
| 2022 | – | +21.8% |
| 2023 | – | +30.6% |
| 2024 | – | -20.8% |
| 2025 | +101.1% | +161.7% |
| 2026 | -45.1% | -26.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SHMD and TTI good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SHMD and TTI?
As of 2026-08-27, the correlation of weekly returns between SHMD and TTI is 0.34 over 3 years, 0.56 over 1 year and n/a over 5 years.
Is TTI a good diversifier for SHMD?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/shmd-vs-tti.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/shmd-vs-tti/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SHMD correlations · TTI correlations
