SNDX vs VXZ: Correlation
Measured on weekly returns over the past three years, Syndax Pharmaceuticals, Inc. (SNDX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNDX and VXZ?
On 3 years of weekly data the SNDX/VXZ correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.07 versus -0.31 over 3 years. The 5-year figure is -0.27, and annualized covariance runs at -461.9 %².
Among the 18 assets we track against SNDX, VXZ sits near the bottom by co-movement, at rank #17. The last year tells two different stories: SNDX led by 40.1 percentage points, +24.0% for SNDX against -16.1% for VXZ. Note the risk asymmetry: SNDX runs 2.3 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.
SNDX vs VXZ: side by side
| SNDX (Syndax Pharmaceuticals, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +24.0% | -16.1% |
| 5-year return | +16.9% | -53.1% |
| Volatility (ann.) | 57.8% | 25.6% |
| Beta vs S&P 500 | 1.25 | -1.31 |
| Max drawdown (3Y) | -64.8% | -36.4% |
| Market cap | $1.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SNDX | VXZ |
|---|---|---|
| 2022 | +16.3% | +0.5% |
| 2023 | -15.1% | -44.0% |
| 2024 | -38.8% | -12.7% |
| 2025 | +58.9% | +5.7% |
| 2026 | -4.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SNDX and VXZ good diversifiers for each other?
Yes. With a correlation of -0.31, SNDX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SNDX and VXZ?
As of 2026-08-27, the correlation of weekly returns between SNDX and VXZ is -0.31 over 3 years, -0.07 over 1 year and -0.27 over 5 years.
Is VXZ a good diversifier for SNDX?
Yes. With a correlation of -0.31, SNDX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/sndx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sndx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SNDX correlations · VXZ correlations
