SCL vs VXZ: Correlation
Stepan Company (SCL) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCL and VXZ?
Across a 3-year window, the weekly returns of SCL and VXZ correlate at -0.38, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.23) than the 3-year average (-0.38). Stretching to 5 years gives -0.43, with an annualized covariance of -357.7 %².
Among the 13 assets we track against SCL, VXZ sits near the bottom by co-movement, at rank #12. The last year tells two different stories: SCL led by 42.3 percentage points, +26.2% for SCL against -16.1% for VXZ.
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 VXZ: side by side
| SCL (Stepan Company) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +26.2% | -16.1% |
| 5-year return | -40.5% | -53.1% |
| Volatility (ann.) | 36.4% | 25.6% |
| Beta vs S&P 500 | 0.93 | -1.31 |
| Max drawdown (3Y) | -54.0% | -36.4% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.51% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SCL | VXZ |
|---|---|---|
| 2022 | -13.2% | +0.5% |
| 2023 | -9.7% | -44.0% |
| 2024 | -30.3% | -12.7% |
| 2025 | -24.6% | +5.7% |
| 2026 | +34.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCL and VXZ good diversifiers for each other?
Yes. With a correlation of -0.38, SCL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SCL and VXZ?
As of 2026-08-27, the correlation of weekly returns between SCL and VXZ is -0.38 over 3 years, -0.23 over 1 year and -0.43 over 5 years.
Is VXZ a good diversifier for SCL?
Yes. With a correlation of -0.38, SCL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.38 mean?
On the −1 to +1 scale, -0.38 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-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/scl-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SCL correlations · VXZ correlations
