SMSI vs TDOC: Correlation
How closely do Smith Micro Software, Inc. (SMSI) and Teladoc Health, Inc. (TDOC) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMSI and TDOC?
On 3 years of weekly data the SMSI/TDOC correlation comes out at 0.33, moderate. Recent behaviour matches the longer record: 0.29 over 1 year against 0.33 over 3. The 5-year figure is 0.31, and annualized covariance runs at 1817.8 %².
By 3-year correlation, TDOC places #5 of the 11 assets tracked against SMSI. Twelve-month performance is nearly a tie, at -18.9% for SMSI and -17.8% for TDOC. One caveat on sizing: SMSI 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.
SMSI vs TDOC: side by side
| SMSI (Smith Micro Software, Inc.) | TDOC (Teladoc Health, Inc.) | |
|---|---|---|
| 1-year return | -18.9% | -17.8% |
| 5-year return | -98.5% | -95.6% |
| Volatility (ann.) | 94.7% | 58.1% |
| Beta vs S&P 500 | 0.95 | 1.55 |
| Max drawdown (3Y) | -96.8% | -80.5% |
| Market cap | – | $1.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SMSI | TDOC |
|---|---|---|
| 2022 | -57.3% | -74.2% |
| 2023 | -60.5% | -8.9% |
| 2024 | -80.3% | -57.8% |
| 2025 | -58.8% | -23.0% |
| 2026 | +9.6% | -9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMSI and TDOC good diversifiers for each other?
Reasonably. At 0.33, SMSI and TDOC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SMSI and TDOC?
As of 2026-08-27, the correlation of weekly returns between SMSI and TDOC is 0.33 over 3 years, 0.29 over 1 year and 0.31 over 5 years.
Is TDOC a good diversifier for SMSI?
Reasonably. At 0.33, SMSI and TDOC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 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.
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Related comparisons
Hubs: SMSI correlations · TDOC correlations
