SNAP vs VXZ: Correlation
How closely do Snap Inc. (SNAP) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNAP and VXZ?
Over the past 3 years, SNAP and VXZ moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.41) sits close to the 3-year figure. Over 5 years the correlation is -0.35, and the annualized covariance of weekly returns is -492.9 %².
Among the 12 assets we track against SNAP, VXZ sits near the bottom by co-movement, at rank #10. The trailing year gives VXZ the advantage: -23.7% versus -16.1%, a 7.6-point spread. One caveat on sizing: SNAP is 2.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
SNAP vs VXZ: side by side
| SNAP (Snap Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -23.7% | -16.1% |
| 5-year return | -92.8% | -53.1% |
| Volatility (ann.) | 59.8% | 25.6% |
| Beta vs S&P 500 | 1.59 | -1.31 |
| Max drawdown (3Y) | -77.5% | -36.4% |
| Market cap | $9.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SNAP | VXZ |
|---|---|---|
| 2022 | -81.0% | +0.5% |
| 2023 | +89.2% | -44.0% |
| 2024 | -36.4% | -12.7% |
| 2025 | -25.1% | +5.7% |
| 2026 | -34.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SNAP and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between SNAP and VXZ?
The SNAP/VXZ correlation stands at -0.32 on a 3-year window (1 year: -0.41, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for SNAP?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 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/snap-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/snap-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SNAP correlations · VXZ correlations
