SCM vs VXZ: Correlation
Stellus Capital Investment Corporation (SCM) 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 SCM and VXZ?
Across a 3-year window, the weekly returns of SCM and VXZ correlate at -0.38, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.42 over 1 year against -0.38 over 3. Stretching to 5 years gives -0.37, with an annualized covariance of -238.3 %².
VXZ is close to the least connected end of SCM's tracked universe, ranking #16 of 17. The last year tells two different stories: VXZ led by 16.6 percentage points, -32.7% for SCM 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.
SCM vs VXZ: side by side
| SCM (Stellus Capital Investment Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -32.7% | -16.1% |
| 5-year return | +16.7% | -53.1% |
| Volatility (ann.) | 24.4% | 25.6% |
| Beta vs S&P 500 | 0.68 | -1.31 |
| Max drawdown (3Y) | -47.8% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | 8.4 | – |
| Dividend yield | 17.12% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SCM | VXZ |
|---|---|---|
| 2022 | +12.9% | +0.5% |
| 2023 | +8.7% | -44.0% |
| 2024 | +20.3% | -12.7% |
| 2025 | +3.7% | +5.7% |
| 2026 | -26.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCM and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between SCM and VXZ?
As of 2026-08-27, the correlation of weekly returns between SCM and VXZ is -0.38 over 3 years, -0.42 over 1 year and -0.37 over 5 years.
Is VXZ a good diversifier for SCM?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
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/scm-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/scm-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SCM correlations · VXZ correlations
