SMCI vs SMH: Correlation
Measured on weekly returns over the past three years, Supermicro (SMCI) and VanEck Semiconductor ETF (SMH) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMCI and SMH?
Over the past 3 years, SMCI and SMH moved with a correlation of 0.50, which is moderate. The relationship has been stable: the 1-year correlation (0.41) sits close to the 3-year figure. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 1810.6 %².
Within SMCI's tracked universe of 29 assets, SMH comes in at #4 by 3-year correlation. The last year tells two different stories: SMH led by 107.2 percentage points, -14.1% for SMCI against +93.1% for SMH. The rolling one-year correlation moved between 0.37 and 0.69 over the past three years, a moderate range. Risk is not evenly split, since SMCI carries 3.2 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.
SMCI vs SMH: side by side
| SMCI (Supermicro) | SMH (VanEck Semiconductor ETF) | |
|---|---|---|
| 1-year return | -14.1% | +93.1% |
| 5-year return | +983.4% | +332.8% |
| Volatility (ann.) | 107.1% | 33.7% |
| Beta vs S&P 500 | 3.08 | 1.91 |
| Max drawdown (3Y) | -84.8% | -35.7% |
| Market cap | $24.9B | – |
| P/E (trailing) | 11.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Information Technology | ETF · Thematic |
Year-by-year returns
| Year | SMCI | SMH |
|---|---|---|
| 2022 | +86.8% | -33.5% |
| 2023 | +246.2% | +73.4% |
| 2024 | +7.2% | +39.1% |
| 2025 | -4.0% | +49.2% |
| 2026 | +31.4% | +59.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMCI and SMH good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SMCI and SMH?
The SMCI/SMH correlation stands at 0.50 on a 3-year window (1 year: 0.41, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is SMH a good diversifier for SMCI?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
A reading of 0.50 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/smci-vs-smh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/smci-vs-smh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SMCI correlations · SMH correlations
