SNEX vs VXX: Correlation
How closely do StoneX Group Inc. (SNEX) 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 -0.40, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNEX and VXX?
Across a 3-year window, the weekly returns of SNEX and VXX correlate at -0.40, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.34 over 1 year against -0.40 over 3. Stretching to 5 years gives -0.31, with an annualized covariance of -903.7 %².
Among the 10 assets we track against SNEX, VXX sits near the bottom by co-movement, at rank #10. The last year tells two different stories: SNEX led by 103.5 percentage points, +53.8% for SNEX against -49.7% for VXX. Risk is not evenly split, since VXX carries 1.6 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.
SNEX vs VXX: side by side
| SNEX (StoneX Group Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +53.8% | -49.7% |
| 5-year return | +414.2% | -95.6% |
| Volatility (ann.) | 37.4% | 60.9% |
| Beta vs S&P 500 | 0.90 | -3.31 |
| Max drawdown (3Y) | -30.2% | -83.3% |
| Market cap | $8.2B | – |
| P/E (trailing) | 18.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SNEX | VXX |
|---|---|---|
| 2022 | +55.6% | -23.8% |
| 2023 | +16.2% | -72.5% |
| 2024 | +32.7% | -26.2% |
| 2025 | +45.7% | -42.2% |
| 2026 | +61.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SNEX and VXX good diversifiers for each other?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SNEX and VXX?
Using weekly returns as of 2026-08-27: -0.40 over 3 years, with -0.34 over the last year and -0.31 over 5 years.
Is VXX a good diversifier for SNEX?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.40 mean?
A reading of -0.40 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/snex-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/snex-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SNEX correlations · VXX correlations
