SIGA vs VXZ: Correlation
Measured on weekly returns over the past three years, SIGA Technologies Inc. (SIGA) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SIGA and VXZ?
Over the past 3 years, SIGA and VXZ moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.36) sits close to the 3-year figure. Over 5 years the correlation is -0.21, and the annualized covariance of weekly returns is -461.8 %².
Out of 15 assets tracked against SIGA, VXZ lands near the bottom at #14. Their recent paths diverged sharply: over the last 12 months VXZ outperformed by 42.0 percentage points (-58.1% for SIGA against -16.1% for VXZ). Risk is not evenly split, since SIGA carries 2.5 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.
SIGA vs VXZ: side by side
| SIGA (SIGA Technologies Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -58.1% | -16.1% |
| 5-year return | -27.3% | -53.1% |
| Volatility (ann.) | 64.1% | 25.6% |
| Beta vs S&P 500 | 1.22 | -1.31 |
| Max drawdown (3Y) | -70.1% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SIGA | VXZ |
|---|---|---|
| 2022 | +4.2% | +0.5% |
| 2023 | -17.6% | -44.0% |
| 2024 | +15.2% | -12.7% |
| 2025 | +12.3% | +5.7% |
| 2026 | -43.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SIGA and VXZ good diversifiers for each other?
Yes. With a correlation of -0.28, SIGA and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SIGA and VXZ?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.36 over the last year and -0.21 over 5 years.
Is VXZ a good diversifier for SIGA?
Yes. With a correlation of -0.28, SIGA and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
A reading of -0.28 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/siga-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/siga-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SIGA correlations · VXZ correlations
