SMHI vs VXZ: Correlation
Measured on weekly returns over the past three years, SEACOR Marine Holdings Inc. (SMHI) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.36, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMHI and VXZ?
On 3 years of weekly data the SMHI/VXZ correlation comes out at -0.36, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.25 versus -0.36 over 3 years. The 5-year figure is -0.33, and annualized covariance runs at -510.7 %².
Among the 12 assets we track against SMHI, VXZ sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with SMHI ahead by 63.3 points (+47.2% versus -16.1%). Risk is not evenly split, since SMHI carries 2.1 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.
SMHI vs VXZ: side by side
| SMHI (SEACOR Marine Holdings Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +47.2% | -16.1% |
| 5-year return | +119.6% | -53.1% |
| Volatility (ann.) | 54.8% | 25.6% |
| Beta vs S&P 500 | 1.41 | -1.31 |
| Max drawdown (3Y) | -74.3% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SMHI | VXZ |
|---|---|---|
| 2022 | +169.4% | +0.5% |
| 2023 | +37.4% | -44.0% |
| 2024 | -47.9% | -12.7% |
| 2025 | -8.2% | +5.7% |
| 2026 | +58.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMHI and VXZ good diversifiers for each other?
Yes. With a correlation of -0.36, SMHI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SMHI and VXZ?
Using weekly returns as of 2026-08-27: -0.36 over 3 years, with -0.25 over the last year and -0.33 over 5 years.
Is VXZ a good diversifier for SMHI?
Yes. With a correlation of -0.36, SMHI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.36 mean?
On the −1 to +1 scale, -0.36 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/smhi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/smhi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SMHI correlations · VXZ correlations
