SITM vs SMH: Correlation
Measured on weekly returns over the past three years, SiTime Corporation (SITM) and VanEck Semiconductor ETF (SMH) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SITM and SMH?
Over the past 3 years, SITM and SMH moved with a correlation of 0.67, which is strong. The relationship has been stable: the 1-year correlation (0.70) sits close to the 3-year figure. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 1750.4 %².
SMH is one of the assets that tracks SITM most closely: it ranks #3 out of the 13 assets we track against SITM. Correlation aside, the last 12 months split them widely, with SITM ahead by 58.2 points (+151.3% versus +93.1%). Note the risk asymmetry: SITM runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
SITM vs SMH: side by side
| SITM (SiTime Corporation) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | +151.3% | +93.1% |
| 5-year return | +183.2% | +332.8% |
| Volatility (ann.) | 77.7% | 33.7% |
| Beta vs S&P 500 | 2.97 | 1.91 |
| Max drawdown (3Y) | -55.3% | -35.7% |
| Market cap | $18.0B | – |
| P/E (trailing) | 999.8 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | SITM | SMH |
|---|---|---|
| 2022 | -65.3% | -33.5% |
| 2023 | +20.1% | +73.4% |
| 2024 | +75.7% | +39.1% |
| 2025 | +64.6% | +49.2% |
| 2026 | +69.8% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SITM and SMH good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SITM and SMH?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.70 over the last year and 0.68 over 5 years.
Is SMH a good diversifier for SITM?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 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/sitm-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sitm-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SITM correlations · SMH correlations
