SCCO vs VXZ: Correlation
Measured on weekly returns over the past three years, Southern Copper Corporation (SCCO) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.34, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCCO and VXZ?
Over the past 3 years, SCCO and VXZ moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.43 over 1 year against -0.34 over 3. Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -358.5 %².
Among the 20 assets we track against SCCO, VXZ sits near the bottom by co-movement, at rank #18. Correlation aside, the last 12 months split them widely, with SCCO ahead by 150.6 points (+134.5% versus -16.1%). Note the risk asymmetry: SCCO runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
SCCO vs VXZ: side by side
| SCCO (Southern Copper Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +134.5% | -16.1% |
| 5-year return | +339.2% | -53.1% |
| Volatility (ann.) | 40.8% | 25.6% |
| Beta vs S&P 500 | 1.32 | -1.31 |
| Max drawdown (3Y) | -39.7% | -36.4% |
| Market cap | $182.6B | – |
| P/E (trailing) | 32.0 | – |
| Dividend yield | 1.65% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SCCO | VXZ |
|---|---|---|
| 2022 | +4.2% | +0.5% |
| 2023 | +50.0% | -44.0% |
| 2024 | +9.4% | -12.7% |
| 2025 | +66.5% | +5.7% |
| 2026 | +55.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCCO and VXZ good diversifiers for each other?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SCCO and VXZ?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.43 over the last year and -0.37 over 5 years.
Is VXZ a good diversifier for SCCO?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.34 mean?
A reading of -0.34 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/scco-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/scco-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SCCO correlations · VXZ correlations
