SNA vs VXX: Correlation
How closely do Snap-on (SNA) 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 -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNA and VXX?
On 3 years of weekly data the SNA/VXX correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.30) sits close to the 3-year figure. The 5-year figure is -0.39, and annualized covariance runs at -435.2 %².
Out of 34 assets tracked against SNA, VXX lands near the bottom at #33. Their recent paths diverged sharply: over the last 12 months SNA outperformed by 72.8 percentage points (+23.1% for SNA against -49.7% for VXX). Risk is not evenly split, since VXX carries 2.9 times the volatility of the other side.
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.
SNA vs VXX: side by side
| SNA (Snap-on) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +23.1% | -49.7% |
| 5-year return | +99.6% | -95.6% |
| Volatility (ann.) | 21.3% | 60.9% |
| Beta vs S&P 500 | 0.70 | -3.31 |
| Max drawdown (3Y) | -20.8% | -83.3% |
| Market cap | $20.5B | – |
| P/E (trailing) | 20.2 | – |
| Dividend yield | 2.38% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | SNA | VXX |
|---|---|---|
| 2022 | +8.9% | -23.8% |
| 2023 | +29.7% | -72.5% |
| 2024 | +20.7% | -26.2% |
| 2025 | +4.3% | -42.2% |
| 2026 | +17.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SNA and VXX good diversifiers for each other?
Yes. With a correlation of -0.34, SNA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SNA and VXX?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.30 over the last year and -0.39 over 5 years.
Is VXX a good diversifier for SNA?
Yes. With a correlation of -0.34, SNA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/sna-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sna-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SNA correlations · VXX correlations
