SCM vs VXX: Correlation
Stellus Capital Investment Corporation (SCM) 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 -0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCM and VXX?
On 3 years of weekly data the SCM/VXX correlation comes out at -0.41, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.40 over 1 year against -0.41 over 3. The 5-year figure is -0.37, and annualized covariance runs at -610.7 %².
VXX is close to the least connected end of SCM's tracked universe, ranking #17 of 17. Correlation aside, the last 12 months split them widely, with SCM ahead by 17.0 points (-32.7% versus -49.7%). One caveat on sizing: VXX is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
SCM vs VXX: side by side
| SCM (Stellus Capital Investment Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -32.7% | -49.7% |
| 5-year return | +16.7% | -95.6% |
| Volatility (ann.) | 24.4% | 60.9% |
| Beta vs S&P 500 | 0.68 | -3.31 |
| Max drawdown (3Y) | -47.8% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | 8.4 | – |
| Dividend yield | 17.12% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SCM | VXX |
|---|---|---|
| 2022 | +12.9% | -23.8% |
| 2023 | +8.7% | -72.5% |
| 2024 | +20.3% | -26.2% |
| 2025 | +3.7% | -42.2% |
| 2026 | -26.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCM 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 SCM and VXX?
The SCM/VXX correlation stands at -0.41 on a 3-year window (1 year: -0.40, 5 years: -0.37), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for SCM?
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?
A reading of -0.41 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/scm-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/scm-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SCM correlations · VXX correlations
