SMTC vs VXX: Correlation
Semtech Corporation (SMTC) 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 -0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMTC and VXX?
Over the past 3 years, SMTC and VXX moved with a correlation of -0.41, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.39 lands near the 3-year figure. Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -1691.8 %².
VXX is close to the least connected end of SMTC's tracked universe, ranking #9 of 10. Their recent paths diverged sharply: over the last 12 months SMTC outperformed by 194.7 percentage points (+145.0% for SMTC against -49.7% for VXX).
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.
SMTC vs VXX: side by side
| SMTC (Semtech Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +145.0% | -49.7% |
| 5-year return | +103.9% | -95.6% |
| Volatility (ann.) | 68.2% | 60.9% |
| Beta vs S&P 500 | 2.23 | -3.31 |
| Max drawdown (3Y) | -68.5% | -83.3% |
| Market cap | $13.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SMTC | VXX |
|---|---|---|
| 2022 | -67.7% | -23.8% |
| 2023 | -23.6% | -72.5% |
| 2024 | +182.3% | -26.2% |
| 2025 | +19.1% | -42.2% |
| 2026 | +93.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMTC and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
FAQ
What is the correlation between SMTC and VXX?
The SMTC/VXX correlation stands at -0.41 on a 3-year window (1 year: -0.39, 5 years: -0.37), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for SMTC?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
What does a correlation of -0.41 mean?
A reading of -0.41 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/smtc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/smtc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SMTC correlations · VXX correlations
