SMHB vs XRN: Correlation
ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN (SMHB) and Chiron Real Estate Inc. (XRN) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMHB and XRN?
On 3 years of weekly data the SMHB/XRN correlation comes out at 0.64, strong. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. The 5-year figure is 0.67, and annualized covariance runs at 738.8 %².
Among the 58 assets we track against SMHB, XRN ranks #14 by 3-year correlation. Their 12-month results are close: +7.4% for SMHB against +5.9% for XRN.
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.
SMHB vs XRN: side by side
| SMHB (ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN) | XRN (Chiron Real Estate Inc.) | |
|---|---|---|
| 1-year return | +7.4% | +5.9% |
| 5-year return | -13.5% | -27.0% |
| Volatility (ann.) | 39.3% | 29.5% |
| Beta vs S&P 500 | 1.42 | 0.62 |
| Max drawdown (3Y) | -45.0% | -39.2% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | 10.1 |
| Dividend yield | – | 6.11% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SMHB | XRN |
|---|---|---|
| 2022 | -36.0% | -42.4% |
| 2023 | +36.0% | +27.9% |
| 2024 | -15.8% | -23.6% |
| 2025 | -7.7% | -4.1% |
| 2026 | +22.1% | +13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMHB and XRN good diversifiers for each other?
Only partially. A correlation of 0.64 means SMHB and XRN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between SMHB and XRN?
As of 2026-08-27, the correlation of weekly returns between SMHB and XRN is 0.64 over 3 years, 0.55 over 1 year and 0.67 over 5 years.
Is XRN a good diversifier for SMHB?
Only partially. A correlation of 0.64 means SMHB and XRN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 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/smhb-vs-xrn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/smhb-vs-xrn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SMHB correlations · XRN correlations
