SMID vs VXX: Correlation
Smith-Midland Corporation (SMID) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMID and VXX?
Over the past 3 years, SMID and VXX moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.15 versus -0.33 over 3 years. Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -1202.7 %².
VXX is close to the least connected end of SMID's tracked universe, ranking #10 of 10. The trailing year gives SMID the advantage: -39.3% versus -49.7%, a 10.4-point spread.
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.
SMID vs VXX: side by side
| SMID (Smith-Midland Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -39.3% | -49.7% |
| 5-year return | +32.1% | -95.6% |
| Volatility (ann.) | 60.2% | 60.9% |
| Beta vs S&P 500 | 1.58 | -3.31 |
| Max drawdown (3Y) | -50.2% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | 17.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SMID | VXX |
|---|---|---|
| 2022 | -56.4% | -23.8% |
| 2023 | +92.7% | -72.5% |
| 2024 | +12.6% | -26.2% |
| 2025 | -18.3% | -42.2% |
| 2026 | -31.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMID and VXX good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SMID and VXX?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with -0.15 over the last year and -0.26 over 5 years.
Is VXX a good diversifier for SMID?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.33 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/smid-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/smid-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SMID correlations · VXX correlations
