SNX vs VXZ: Correlation
Measured on weekly returns over the past three years, TD SYNNEX Corporation (SNX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.44, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNX and VXZ?
Across a 3-year window, the weekly returns of SNX and VXZ correlate at -0.44, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.41) sits close to the 3-year figure. Stretching to 5 years gives -0.44, with an annualized covariance of -354.2 %².
VXZ is close to the least connected end of SNX's tracked universe, ranking #13 of 14. The last year tells two different stories: SNX led by 92.3 percentage points, +76.2% for SNX against -16.1% for VXZ.
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 VXZ: side by side
| SNX (TD SYNNEX Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +76.2% | -16.1% |
| 5-year return | +114.5% | -53.1% |
| Volatility (ann.) | 31.3% | 25.6% |
| Beta vs S&P 500 | 1.15 | -1.31 |
| Max drawdown (3Y) | -33.8% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | 18.6 | – |
| Dividend yield | 0.74% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SNX | VXZ |
|---|---|---|
| 2022 | -16.1% | +0.5% |
| 2023 | +15.3% | -44.0% |
| 2024 | +10.5% | -12.7% |
| 2025 | +29.8% | +5.7% |
| 2026 | +74.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SNX and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between SNX and VXZ?
Using weekly returns as of 2026-08-27: -0.44 over 3 years, with -0.41 over the last year and -0.44 over 5 years.
Is VXZ a good diversifier for SNX?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 mean?
A reading of -0.44 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-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/snx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SNX correlations · VXZ correlations
