SGML vs VXZ: Correlation
How closely do Sigma Lithium Corporation (SGML) 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 -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SGML and VXZ?
Over the past 3 years, SGML and VXZ moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.22 over 3. Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -541.4 %².
Among the 12 assets we track against SGML, VXZ sits near the bottom by co-movement, at rank #11. The last year tells two different stories: SGML led by 104.0 percentage points, +87.9% for SGML against -16.1% for VXZ. Risk is not evenly split, since SGML carries 3.8 times the volatility of the other side.
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.
SGML vs VXZ: side by side
| SGML (Sigma Lithium Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +87.9% | -16.1% |
| 5-year return | +69.8% | -53.1% |
| Volatility (ann.) | 97.8% | 25.6% |
| Beta vs S&P 500 | 1.89 | -1.31 |
| Max drawdown (3Y) | -88.9% | -36.4% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SGML | VXZ |
|---|---|---|
| 2022 | +171.1% | +0.5% |
| 2023 | +11.7% | -44.0% |
| 2024 | -64.4% | -12.7% |
| 2025 | +17.6% | +5.7% |
| 2026 | -4.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SGML and VXZ good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SGML and VXZ?
The SGML/VXZ correlation stands at -0.22 on a 3-year window (1 year: -0.22, 5 years: -0.24), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for SGML?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/sgml-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sgml-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SGML correlations · VXZ correlations
