SMP vs VXZ: Correlation
Standard Motor Products, Inc. (SMP) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMP and VXZ?
Across a 3-year window, the weekly returns of SMP and VXZ correlate at -0.30, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.31 over 1 year against -0.30 over 3. Stretching to 5 years gives -0.33, with an annualized covariance of -269.8 %².
VXZ is close to the least connected end of SMP's tracked universe, ranking #12 of 13. Over the last 12 months SMP came out ahead by 13.4 percentage points (-2.7% against -16.1%).
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 VXZ: side by side
| SMP (Standard Motor Products, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -2.7% | -16.1% |
| 5-year return | +1.1% | -53.1% |
| Volatility (ann.) | 35.3% | 25.6% |
| Beta vs S&P 500 | 0.75 | -1.31 |
| Max drawdown (3Y) | -44.8% | -36.4% |
| Market cap | $0.8B | – |
| P/E (trailing) | 9.4 | – |
| Dividend yield | 3.50% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SMP | VXZ |
|---|---|---|
| 2022 | -31.8% | +0.5% |
| 2023 | +18.0% | -44.0% |
| 2024 | -19.4% | -12.7% |
| 2025 | +23.4% | +5.7% |
| 2026 | +3.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMP and VXZ good diversifiers for each other?
Yes. With a correlation of -0.30, SMP and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SMP and VXZ?
The SMP/VXZ correlation stands at -0.30 on a 3-year window (1 year: -0.31, 5 years: -0.33), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for SMP?
Yes. With a correlation of -0.30, SMP and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
A reading of -0.30 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/smp-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/smp-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SMP correlations · VXZ correlations
