S vs VXZ: Correlation
SentinelOne, Inc. (S) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are S and VXZ?
On 3 years of weekly data the S/VXZ correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.09 versus -0.29 over 3 years. The 5-year figure is -0.29, and annualized covariance runs at -361.1 %².
Out of 18 assets tracked against S, VXZ lands near the bottom at #16. Correlation aside, the last 12 months split them widely, with S ahead by 48.5 points (+32.4% versus -16.1%). One caveat on sizing: S is 1.9 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.
S vs VXZ: side by side
| S (SentinelOne, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +32.4% | -16.1% |
| 5-year return | -65.2% | -53.1% |
| Volatility (ann.) | 48.4% | 25.6% |
| Beta vs S&P 500 | 1.43 | -1.31 |
| Max drawdown (3Y) | -60.2% | -36.4% |
| Market cap | $7.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | S | VXZ |
|---|---|---|
| 2022 | -71.1% | +0.5% |
| 2023 | +88.1% | -44.0% |
| 2024 | -19.1% | -12.7% |
| 2025 | -32.4% | +5.7% |
| 2026 | +51.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are S and VXZ good diversifiers for each other?
Yes. With a correlation of -0.29, S and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between S and VXZ?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.09 over the last year and -0.29 over 5 years.
Is VXZ a good diversifier for S?
Yes. With a correlation of -0.29, S and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
A reading of -0.29 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/s-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/s-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: S correlations · VXZ correlations
