SAH vs VXZ: Correlation
How closely do Sonic Automotive, Inc. (SAH) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SAH and VXZ?
Over the past 3 years, SAH and VXZ moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.08 versus -0.31 over 3 years. Over 5 years the correlation is -0.34, and the annualized covariance of weekly returns is -317.2 %².
Out of 11 assets tracked against SAH, VXZ lands near the bottom at #11. Over the last 12 months SAH came out ahead by 11.9 percentage points (-4.2% against -16.1%). One caveat on sizing: SAH 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.
SAH vs VXZ: side by side
| SAH (Sonic Automotive, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -4.2% | -16.1% |
| 5-year return | +73.6% | -53.1% |
| Volatility (ann.) | 40.3% | 25.6% |
| Beta vs S&P 500 | 0.91 | -1.31 |
| Max drawdown (3Y) | -33.6% | -36.4% |
| Market cap | $2.5B | – |
| P/E (trailing) | 12.4 | – |
| Dividend yield | 1.99% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SAH | VXZ |
|---|---|---|
| 2022 | +1.9% | +0.5% |
| 2023 | +16.7% | -44.0% |
| 2024 | +15.2% | -12.7% |
| 2025 | -0.3% | +5.7% |
| 2026 | +29.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SAH and VXZ good diversifiers for each other?
Yes. With a correlation of -0.31, SAH and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SAH and VXZ?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.08 over the last year and -0.34 over 5 years.
Is VXZ a good diversifier for SAH?
Yes. With a correlation of -0.31, SAH and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
A reading of -0.31 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/sah-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sah-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SAH correlations · VXZ correlations
