SMH vs STX: Correlation
Measured on weekly returns over the past three years, VanEck Semiconductor ETF (SMH) and Seagate Technology (STX) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMH and STX?
On 3 years of weekly data the SMH/STX correlation comes out at 0.61, strong. Little has changed lately, as the 1-year reading of 0.62 lands near the 3-year figure. The 5-year figure is 0.62, and annualized covariance runs at 1049.5 %².
By 3-year correlation, STX places #60 of the 88 assets tracked against SMH. Correlation aside, the last 12 months split them widely, with STX ahead by 317.7 points (+93.1% versus +410.8%). Stability stands out here, with the rolling one-year correlation confined to 0.50 through 0.70. Risk is not evenly split, since STX 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.
SMH vs STX: side by side
| SMH (VanEck Semiconductor ETF) | STX (Seagate Technology) | |
|---|---|---|
| 1-year return | +93.1% | +410.8% |
| 5-year return | +332.8% | +1032.5% |
| Volatility (ann.) | 33.7% | 51.3% |
| Beta vs S&P 500 | 1.91 | 1.97 |
| Max drawdown (3Y) | -35.7% | -40.0% |
| Market cap | – | $192.0B |
| P/E (trailing) | – | 61.0 |
| Dividend yield | – | 0.35% |
| Sector / category | ETF · Thematic | Information Technology |
Year-by-year returns
| Year | SMH | STX |
|---|---|---|
| 2022 | -33.5% | -51.4% |
| 2023 | +73.4% | +69.1% |
| 2024 | +39.1% | +4.1% |
| 2025 | +49.2% | +225.3% |
| 2026 | +59.1% | +208.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMH and STX good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between SMH and STX?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.62 over the last year and 0.62 over 5 years.
Is STX a good diversifier for SMH?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 mean?
A reading of 0.61 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/smh-vs-stx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/smh-vs-stx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SMH correlations · STX correlations
