SIGI vs VXZ: Correlation
Selective Insurance Group, Inc. (SIGI) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SIGI and VXZ?
Over the past 3 years, SIGI and VXZ moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.26) sits close to the 3-year figure. Over 5 years the correlation is -0.34, and the annualized covariance of weekly returns is -199.1 %².
Out of 16 assets tracked against SIGI, VXZ lands near the bottom at #15. Their recent paths diverged sharply: over the last 12 months SIGI outperformed by 35.2 percentage points (+19.1% for SIGI 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.
SIGI vs VXZ: side by side
| SIGI (Selective Insurance Group, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +19.1% | -16.1% |
| 5-year return | +18.8% | -53.1% |
| Volatility (ann.) | 25.4% | 25.6% |
| Beta vs S&P 500 | 0.32 | -1.31 |
| Max drawdown (3Y) | -30.5% | -36.4% |
| Market cap | $5.5B | – |
| P/E (trailing) | 11.5 | – |
| Dividend yield | 1.81% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SIGI | VXZ |
|---|---|---|
| 2022 | +9.7% | +0.5% |
| 2023 | +13.7% | -44.0% |
| 2024 | -4.6% | -12.7% |
| 2025 | -8.8% | +5.7% |
| 2026 | +11.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SIGI and VXZ good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SIGI and VXZ?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.26 over the last year and -0.34 over 5 years.
Is VXZ a good diversifier for SIGI?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 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/sigi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sigi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SIGI correlations · VXZ correlations
