SOXX vs TAN: Correlation
Measured on weekly returns over the past three years, iShares Semiconductor ETF (SOXX) and Invesco Solar ETF (TAN) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SOXX and TAN?
Over the past 3 years, SOXX and TAN moved with a correlation of 0.48, which is moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 628.6 %².
Within SOXX's tracked universe of 127 assets, TAN comes in at #102 by 3-year correlation. The last year tells two different stories: SOXX led by 88.6 percentage points, +110.0% for SOXX against +21.4% for TAN. Stability stands out here, with the rolling one-year correlation confined to 0.38 through 0.60.
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.
SOXX vs TAN: side by side
| SOXX (iShares Semiconductor ETF) | TAN (Invesco Solar ETF) | |
|---|---|---|
| 1-year return | +110.0% | +21.4% |
| 5-year return | +247.5% | -41.9% |
| Volatility (ann.) | 35.2% | 37.4% |
| Beta vs S&P 500 | 1.93 | 1.04 |
| Max drawdown (3Y) | -41.4% | -55.4% |
| Dividend yield | 0.29% | – |
| Expense ratio | 0.33% | – |
| Assets under management | $44.7B | – |
| Sector / category | ETF · Thematic | ETF · Thematic |
SOXX is a Technology fund from iShares: $44.7B under management, 30 holdings, a 0.33% expense ratio, a 0.29% trailing dividend yield.
Year-by-year returns
| Year | SOXX | TAN |
|---|---|---|
| 2022 | -35.1% | -5.2% |
| 2023 | +67.1% | -26.8% |
| 2024 | +12.9% | -37.6% |
| 2025 | +40.7% | +48.3% |
| 2026 | +74.7% | +1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SOXX and TAN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SOXX and TAN?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.47 over the last year and 0.48 over 5 years.
Is TAN a good diversifier for SOXX?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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/soxx-vs-tan.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/soxx-vs-tan/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SOXX correlations · TAN correlations
