SF vs VXZ: Correlation
How closely do Stifel Financial Corporation (SF) 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 -0.65, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SF and VXZ?
Across a 3-year window, the weekly returns of SF and VXZ correlate at -0.65, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.44) than the 3-year average (-0.65). Stretching to 5 years gives -0.63, with an annualized covariance of -453.3 %².
Among the 24 assets we track against SF, VXZ sits near the bottom by co-movement, at rank #23. Their recent paths diverged sharply: over the last 12 months SF outperformed by 22.1 percentage points (+6.0% for SF 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.
SF vs VXZ: side by side
| SF (Stifel Financial Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.0% | -16.1% |
| 5-year return | +92.0% | -53.1% |
| Volatility (ann.) | 27.2% | 25.6% |
| Beta vs S&P 500 | 1.23 | -1.31 |
| Max drawdown (3Y) | -34.7% | -36.4% |
| Market cap | $12.2B | – |
| P/E (trailing) | 14.4 | – |
| Dividend yield | 1.59% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SF | VXZ |
|---|---|---|
| 2022 | -15.6% | +0.5% |
| 2023 | +21.2% | -44.0% |
| 2024 | +56.4% | -12.7% |
| 2025 | +20.1% | +5.7% |
| 2026 | -2.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SF and VXZ good diversifiers for each other?
Yes: at -0.65, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SF and VXZ?
As of 2026-08-27, the correlation of weekly returns between SF and VXZ is -0.65 over 3 years, -0.44 over 1 year and -0.63 over 5 years.
Is VXZ a good diversifier for SF?
Yes: at -0.65, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.65 mean?
On the −1 to +1 scale, -0.65 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/sf-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sf-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SF correlations · VXZ correlations
