SND vs VXX: Correlation
Measured on weekly returns over the past three years, Smart Sand, Inc. (SND) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SND and VXX?
On 3 years of weekly data the SND/VXX correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.03) than the 3-year average (-0.21). The 5-year figure is -0.21, and annualized covariance runs at -746.1 %².
Out of 12 assets tracked against SND, VXX lands near the bottom at #10. The last year tells two different stories: SND led by 219.2 percentage points, +169.5% for SND 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.
SND vs VXX: side by side
| SND (Smart Sand, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +169.5% | -49.7% |
| 5-year return | +141.8% | -95.6% |
| Volatility (ann.) | 57.5% | 60.9% |
| Beta vs S&P 500 | 0.34 | -3.31 |
| Max drawdown (3Y) | -33.3% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | 19.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SND | VXX |
|---|---|---|
| 2022 | +0.6% | -23.8% |
| 2023 | +7.8% | -72.5% |
| 2024 | +22.1% | -26.2% |
| 2025 | +89.8% | -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 SND and VXX good diversifiers for each other?
Yes. With a correlation of -0.21, SND and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SND and VXX?
As of 2026-08-27, the correlation of weekly returns between SND and VXX is -0.21 over 3 years, 0.03 over 1 year and -0.21 over 5 years.
Is VXX a good diversifier for SND?
Yes. With a correlation of -0.21, SND and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/snd-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/snd-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SND correlations · VXX correlations
