VanEck Semiconductor ETF (Dinari Tokenized ETF) vs Tether Gold

Tether Gold (XAUT) is 109764.8× the size of VanEck Semiconductor ETF (Dinari Tokenized ETF) (SMH) by market capitalisation. Their daily returns move loosely together (correlation 0.49 across 25 shared trading days). SMH has been the more volatile of the two, at 49% annualised against XAUT's 24%.

Correlation: 0.49
Size ratio: 1 : 109764.8

VanEck Semiconductor ETF (Dinari Tokenized ETF)SMH

$459.9500

24h: -7.37%
Market cap: $29,920
Volume 24h: $15,205
Volatility (ann.): 49%

Tether GoldXAUT

$4,069.11

24h: -1.11%
Market cap: $3.28B
Volume 24h: $328.53M
Volatility (ann.): 24%

SMH 0.0%Share of the two combined market caps100.0% XAUT

Performance

SMHXAUT

7 days-6.45%+1.67%XAUT
30 days-17.56%-2.25%XAUT
90 days—-5.95%—

Correlation

0.49over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4990d: insufficient data1y: insufficient data

Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.

Risk & extremes

Metric	SMH	XAUT
Max drawdown (400d)	-19.1%	-19.4%
Risk-adjusted return (90d)	-0.36	-0.27

Relative strength over 90 days: XAUT outperformed SMH by 15.8% — measured on the SMH/XAUT ratio, so it holds regardless of market direction.

VanEck Semiconductor ETF (Dinari Tokenized ETF) →Tether Gold →