SCL vs VXX: Correlation
How closely do Stepan Company (SCL) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.41, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCL and VXX?
Across a 3-year window, the weekly returns of SCL and VXX correlate at -0.41, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.14) runs above the 3-year figure (-0.41). Stretching to 5 years gives -0.42, with an annualized covariance of -901.3 %².
Among the 13 assets we track against SCL, VXX sits near the bottom by co-movement, at rank #13. Their recent paths diverged sharply: over the last 12 months SCL outperformed by 75.9 percentage points (+26.2% for SCL against -49.7% for VXX). Risk is not evenly split, since VXX carries 1.7 times the volatility of the other side.
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.
SCL vs VXX: side by side
| SCL (Stepan Company) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +26.2% | -49.7% |
| 5-year return | -40.5% | -95.6% |
| Volatility (ann.) | 36.4% | 60.9% |
| Beta vs S&P 500 | 0.93 | -3.31 |
| Max drawdown (3Y) | -54.0% | -83.3% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.51% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SCL | VXX |
|---|---|---|
| 2022 | -13.2% | -23.8% |
| 2023 | -9.7% | -72.5% |
| 2024 | -30.3% | -26.2% |
| 2025 | -24.6% | -42.2% |
| 2026 | +34.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCL and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
FAQ
What is the correlation between SCL and VXX?
The SCL/VXX correlation stands at -0.41 on a 3-year window (1 year: -0.14, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for SCL?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
What does a correlation of -0.41 mean?
On the −1 to +1 scale, -0.41 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/scl-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/scl-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SCL correlations · VXX correlations
