SMCI vs VXX: Correlation
How closely do Supermicro (SMCI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMCI and VXX?
Across a 3-year window, the weekly returns of SMCI and VXX correlate at -0.27, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.23) sits close to the 3-year figure. Stretching to 5 years gives -0.23, with an annualized covariance of -1732.8 %².
VXX is close to the least connected end of SMCI's tracked universe, ranking #28 of 29. The last year tells two different stories: SMCI led by 35.6 percentage points, -14.1% for SMCI against -49.7% for VXX. One caveat on sizing: SMCI is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
SMCI vs VXX: side by side
| SMCI (Supermicro) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -14.1% | -49.7% |
| 5-year return | +983.4% | -95.6% |
| Volatility (ann.) | 107.1% | 60.9% |
| Beta vs S&P 500 | 3.08 | -3.31 |
| Max drawdown (3Y) | -84.8% | -83.3% |
| Market cap | $24.9B | – |
| P/E (trailing) | 11.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | SMCI | VXX |
|---|---|---|
| 2022 | +86.8% | -23.8% |
| 2023 | +246.2% | -72.5% |
| 2024 | +7.2% | -26.2% |
| 2025 | -4.0% | -42.2% |
| 2026 | +31.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMCI and VXX good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SMCI and VXX?
As of 2026-08-27, the correlation of weekly returns between SMCI and VXX is -0.27 over 3 years, -0.23 over 1 year and -0.23 over 5 years.
Is VXX a good diversifier for SMCI?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 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/smci-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/smci-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SMCI correlations · VXX correlations
