SLM vs VXZ: Correlation
Measured on weekly returns over the past three years, SLM Corporation (SLM) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.46, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SLM and VXZ?
Across a 3-year window, the weekly returns of SLM and VXZ correlate at -0.46, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.27) runs above the 3-year figure (-0.46). Stretching to 5 years gives -0.48, with an annualized covariance of -393.1 %².
VXZ is close to the least connected end of SLM's tracked universe, ranking #10 of 10. Their 12-month results are close: -13.8% for SLM 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.
SLM vs VXZ: side by side
| SLM (SLM Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -13.8% | -16.1% |
| 5-year return | +62.3% | -53.1% |
| Volatility (ann.) | 33.1% | 25.6% |
| Beta vs S&P 500 | 0.96 | -1.31 |
| Max drawdown (3Y) | -45.1% | -36.4% |
| Market cap | $5.0B | – |
| P/E (trailing) | 7.5 | – |
| Dividend yield | 1.94% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SLM | VXZ |
|---|---|---|
| 2022 | -13.5% | +0.5% |
| 2023 | +18.7% | -44.0% |
| 2024 | +47.3% | -12.7% |
| 2025 | -0.2% | +5.7% |
| 2026 | +0.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SLM and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
FAQ
What is the correlation between SLM and VXZ?
The SLM/VXZ correlation stands at -0.46 on a 3-year window (1 year: -0.27, 5 years: -0.48), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for SLM?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
What does a correlation of -0.46 mean?
A reading of -0.46 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/slm-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/slm-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SLM correlations · VXZ correlations
