SCYX vs VXZ: Correlation
How closely do SCYNEXIS, Inc. (SCYX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCYX and VXZ?
Over the past 3 years, SCYX and VXZ moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -560.3 %².
Among the 10 assets we track against SCYX, VXZ sits near the bottom by co-movement, at rank #10. Their 12-month results are close: -17.4% for SCYX against -16.1% for VXZ. One caveat on sizing: SCYX is 3.1 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.
SCYX vs VXZ: side by side
| SCYX (SCYNEXIS, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -17.4% | -16.1% |
| 5-year return | -89.1% | -53.1% |
| Volatility (ann.) | 79.8% | 25.6% |
| Beta vs S&P 500 | 1.52 | -1.31 |
| Max drawdown (3Y) | -87.8% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SCYX | VXZ |
|---|---|---|
| 2022 | -74.4% | +0.5% |
| 2023 | +42.9% | -44.0% |
| 2024 | -45.7% | -12.7% |
| 2025 | -47.8% | +5.7% |
| 2026 | +9.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCYX and VXZ good diversifiers for each other?
Yes. With a correlation of -0.27, SCYX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SCYX and VXZ?
The SCYX/VXZ correlation stands at -0.27 on a 3-year window (1 year: -0.27, 5 years: -0.31), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for SCYX?
Yes. With a correlation of -0.27, SCYX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 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/scyx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/scyx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SCYX correlations · VXZ correlations
