SNPS vs VXZ: Correlation
How closely do Synopsys (SNPS) 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 -0.40, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNPS and VXZ?
Over the past 3 years, SNPS and VXZ moved with a correlation of -0.40, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.20 versus -0.40 over 3 years. Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -427.2 %².
VXZ is close to the least connected end of SNPS's tracked universe, ranking #32 of 33. The trailing year gives VXZ the advantage: -22.9% versus -16.1%, a 6.8-point spread. One caveat on sizing: SNPS is 1.6 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.
SNPS vs VXZ: side by side
| SNPS (Synopsys) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -22.9% | -16.1% |
| 5-year return | +39.1% | -53.1% |
| Volatility (ann.) | 42.2% | 25.6% |
| Beta vs S&P 500 | 1.57 | -1.31 |
| Max drawdown (3Y) | -42.3% | -36.4% |
| Market cap | $89.1B | – |
| P/E (trailing) | 71.4 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | SNPS | VXZ |
|---|---|---|
| 2022 | -13.4% | +0.5% |
| 2023 | +61.3% | -44.0% |
| 2024 | -5.7% | -12.7% |
| 2025 | -3.2% | +5.7% |
| 2026 | -1.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SNPS and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between SNPS and VXZ?
As of 2026-08-27, the correlation of weekly returns between SNPS and VXZ is -0.40 over 3 years, -0.20 over 1 year and -0.40 over 5 years.
Is VXZ a good diversifier for SNPS?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 mean?
On the −1 to +1 scale, -0.40 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/snps-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/snps-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SNPS correlations · VXZ correlations
