SF vs VXX: Correlation
Measured on weekly returns over the past three years, Stifel Financial Corporation (SF) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.66, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SF and VXX?
On 3 years of weekly data the SF/VXX correlation comes out at -0.66, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.44 versus -0.66 over 3 years. The 5-year figure is -0.59, and annualized covariance runs at -1086.1 %².
VXX is close to the least connected end of SF's tracked universe, ranking #24 of 24. Their recent paths diverged sharply: over the last 12 months SF outperformed by 55.7 percentage points (+6.0% for SF against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
SF vs VXX: side by side
| SF (Stifel Financial Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.0% | -49.7% |
| 5-year return | +92.0% | -95.6% |
| Volatility (ann.) | 27.2% | 60.9% |
| Beta vs S&P 500 | 1.23 | -3.31 |
| Max drawdown (3Y) | -34.7% | -83.3% |
| Market cap | $12.2B | – |
| P/E (trailing) | 14.4 | – |
| Dividend yield | 1.59% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SF | VXX |
|---|---|---|
| 2022 | -15.6% | -23.8% |
| 2023 | +21.2% | -72.5% |
| 2024 | +56.4% | -26.2% |
| 2025 | +20.1% | -42.2% |
| 2026 | -2.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SF and VXX good diversifiers for each other?
Yes. With a correlation of -0.66, SF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SF and VXX?
The SF/VXX correlation stands at -0.66 on a 3-year window (1 year: -0.44, 5 years: -0.59), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for SF?
Yes. With a correlation of -0.66, SF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.66 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/sf-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sf-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SF correlations · VXX correlations
