SMCI vs VXZ: Correlation
How closely do Supermicro (SMCI) 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 -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMCI and VXZ?
On 3 years of weekly data the SMCI/VXZ correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. The 5-year figure is -0.25, and annualized covariance runs at -711.8 %².
Out of 29 assets tracked against SMCI, VXZ lands near the bottom at #27. Their 12-month results are close: -14.1% for SMCI against -16.1% for VXZ. Note the risk asymmetry: SMCI runs 4.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 VXZ: side by side
| SMCI (Supermicro) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -14.1% | -16.1% |
| 5-year return | +983.4% | -53.1% |
| Volatility (ann.) | 107.1% | 25.6% |
| Beta vs S&P 500 | 3.08 | -1.31 |
| Max drawdown (3Y) | -84.8% | -36.4% |
| Market cap | $24.9B | – |
| P/E (trailing) | 11.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | SMCI | VXZ |
|---|---|---|
| 2022 | +86.8% | +0.5% |
| 2023 | +246.2% | -44.0% |
| 2024 | +7.2% | -12.7% |
| 2025 | -4.0% | +5.7% |
| 2026 | +31.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMCI and VXZ good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SMCI and VXZ?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.21 over the last year and -0.25 over 5 years.
Is VXZ a good diversifier for SMCI?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/smci-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/smci-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SMCI correlations · VXZ correlations
