SMP vs VXX: Correlation
How closely do Standard Motor Products, Inc. (SMP) 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 -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMP and VXX?
Across a 3-year window, the weekly returns of SMP and VXX correlate at -0.31, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.21 lands near the 3-year figure. Stretching to 5 years gives -0.31, with an annualized covariance of -673.4 %².
VXX is close to the least connected end of SMP's tracked universe, ranking #13 of 13. Their recent paths diverged sharply: over the last 12 months SMP outperformed by 47.0 percentage points (-2.7% for SMP against -49.7% for VXX). Note the risk asymmetry: VXX runs 1.7 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.
SMP vs VXX: side by side
| SMP (Standard Motor Products, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -2.7% | -49.7% |
| 5-year return | +1.1% | -95.6% |
| Volatility (ann.) | 35.3% | 60.9% |
| Beta vs S&P 500 | 0.75 | -3.31 |
| Max drawdown (3Y) | -44.8% | -83.3% |
| Market cap | $0.8B | – |
| P/E (trailing) | 9.4 | – |
| Dividend yield | 3.50% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SMP | VXX |
|---|---|---|
| 2022 | -31.8% | -23.8% |
| 2023 | +18.0% | -72.5% |
| 2024 | -19.4% | -26.2% |
| 2025 | +23.4% | -42.2% |
| 2026 | +3.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMP and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between SMP and VXX?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.21 over the last year and -0.31 over 5 years.
Is VXX a good diversifier for SMP?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 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/smp-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/smp-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SMP correlations · VXX correlations
