SBH vs VXX: Correlation
Sally Beauty Holdings, Inc. Commo (SBH) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SBH and VXX?
Over the past 3 years, SBH and VXX moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.43) sits close to the 3-year figure. Over 5 years the correlation is -0.34, and the annualized covariance of weekly returns is -1012.2 %².
Among the 14 assets we track against SBH, VXX sits near the bottom by co-movement, at rank #14. The last year tells two different stories: SBH led by 66.2 percentage points, +16.5% for SBH against -49.7% for VXX.
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.
SBH vs VXX: side by side
| SBH (Sally Beauty Holdings, Inc. Commo) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +16.5% | -49.7% |
| 5-year return | -12.3% | -95.6% |
| Volatility (ann.) | 45.3% | 60.9% |
| Beta vs S&P 500 | 1.15 | -3.31 |
| Max drawdown (3Y) | -45.2% | -83.3% |
| Market cap | $1.5B | – |
| P/E (trailing) | 8.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SBH | VXX |
|---|---|---|
| 2022 | -32.2% | -23.8% |
| 2023 | +6.1% | -72.5% |
| 2024 | -21.3% | -26.2% |
| 2025 | +36.5% | -42.2% |
| 2026 | +15.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SBH and VXX good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SBH and VXX?
As of 2026-08-27, the correlation of weekly returns between SBH and VXX is -0.37 over 3 years, -0.43 over 1 year and -0.34 over 5 years.
Is VXX a good diversifier for SBH?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 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/sbh-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sbh-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SBH correlations · VXX correlations
