SMR vs VXX: Correlation
Measured on weekly returns over the past three years, NuScale Power Corporation (SMR) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMR and VXX?
Over the past 3 years, SMR and VXX moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.29) sits close to the 3-year figure. Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -1963.0 %².
Out of 14 assets tracked against SMR, VXX lands near the bottom at #13. The last year tells two different stories: VXX led by 22.6 percentage points, -72.3% for SMR against -49.7% for VXX. Note the risk asymmetry: SMR runs 2.0 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.
SMR vs VXX: side by side
| SMR (NuScale Power Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -72.3% | -49.7% |
| 5-year return | -3.2% | -95.6% |
| Volatility (ann.) | 119.8% | 60.9% |
| Beta vs S&P 500 | 3.28 | -3.31 |
| Max drawdown (3Y) | -85.8% | -83.3% |
| Market cap | $4.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SMR | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | -67.9% | -72.5% |
| 2024 | +445.0% | -26.2% |
| 2025 | -21.0% | -42.2% |
| 2026 | -31.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMR and VXX good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SMR and VXX?
As of 2026-08-27, the correlation of weekly returns between SMR and VXX is -0.27 over 3 years, -0.29 over 1 year and -0.25 over 5 years.
Is VXX a good diversifier for SMR?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
A reading of -0.27 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/smr-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/smr-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SMR correlations · VXX correlations
