SNX vs VXX: Correlation
How closely do TD SYNNEX Corporation (SNX) 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 -0.45, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNX and VXX?
Over the past 3 years, SNX and VXX moved with a correlation of -0.45, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.40 lands near the 3-year figure. Over 5 years the correlation is -0.44, and the annualized covariance of weekly returns is -858.2 %².
Out of 14 assets tracked against SNX, VXX lands near the bottom at #14. Correlation aside, the last 12 months split them widely, with SNX ahead by 125.9 points (+76.2% versus -49.7%). One caveat on sizing: VXX is 1.9 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.
SNX vs VXX: side by side
| SNX (TD SYNNEX Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +76.2% | -49.7% |
| 5-year return | +114.5% | -95.6% |
| Volatility (ann.) | 31.3% | 60.9% |
| Beta vs S&P 500 | 1.15 | -3.31 |
| Max drawdown (3Y) | -33.8% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 18.6 | – |
| Dividend yield | 0.74% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SNX | VXX |
|---|---|---|
| 2022 | -16.1% | -23.8% |
| 2023 | +15.3% | -72.5% |
| 2024 | +10.5% | -26.2% |
| 2025 | +29.8% | -42.2% |
| 2026 | +74.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SNX and VXX good diversifiers for each other?
Yes: at -0.45, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SNX and VXX?
The SNX/VXX correlation stands at -0.45 on a 3-year window (1 year: -0.40, 5 years: -0.44), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for SNX?
Yes: at -0.45, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.45 mean?
A reading of -0.45 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/snx-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/snx-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SNX correlations · VXX correlations
