SCHL vs VXZ: Correlation
Measured on weekly returns over the past three years, Scholastic Corporation (SCHL) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCHL and VXZ?
Across a 3-year window, the weekly returns of SCHL and VXZ correlate at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.01) than the 3-year average (-0.30). Stretching to 5 years gives -0.27, with an annualized covariance of -334.1 %².
VXZ is close to the least connected end of SCHL's tracked universe, ranking #10 of 10. The last year tells two different stories: SCHL led by 71.2 percentage points, +55.1% for SCHL against -16.1% for VXZ. Note the risk asymmetry: SCHL runs 1.7 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.
SCHL vs VXZ: side by side
| SCHL (Scholastic Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +55.1% | -16.1% |
| 5-year return | +32.0% | -53.1% |
| Volatility (ann.) | 43.5% | 25.6% |
| Beta vs S&P 500 | 0.79 | -1.31 |
| Max drawdown (3Y) | -62.3% | -36.4% |
| Market cap | $0.7B | – |
| P/E (trailing) | 17.1 | – |
| Dividend yield | 2.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SCHL | VXZ |
|---|---|---|
| 2022 | +0.5% | +0.5% |
| 2023 | -2.5% | -44.0% |
| 2024 | -42.0% | -12.7% |
| 2025 | +44.0% | +5.7% |
| 2026 | +33.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCHL and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between SCHL and VXZ?
As of 2026-08-27, the correlation of weekly returns between SCHL and VXZ is -0.30 over 3 years, 0.01 over 1 year and -0.27 over 5 years.
Is VXZ a good diversifier for SCHL?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
A reading of -0.30 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/schl-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/schl-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SCHL correlations · VXZ correlations
