SONO vs VXZ: Correlation
Sonos, Inc. (SONO) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SONO and VXZ?
Across a 3-year window, the weekly returns of SONO and VXZ correlate at -0.48, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.31) than the 3-year average (-0.48). Stretching to 5 years gives -0.43, with an annualized covariance of -553.4 %².
VXZ is close to the least connected end of SONO's tracked universe, ranking #13 of 14. Correlation aside, the last 12 months split them widely, with SONO ahead by 24.4 points (+8.3% versus -16.1%). Note the risk asymmetry: SONO runs 1.7 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.
SONO vs VXZ: side by side
| SONO (Sonos, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +8.3% | -16.1% |
| 5-year return | -61.8% | -53.1% |
| Volatility (ann.) | 44.8% | 25.6% |
| Beta vs S&P 500 | 1.66 | -1.31 |
| Max drawdown (3Y) | -60.5% | -36.4% |
| Market cap | $1.8B | – |
| P/E (trailing) | 33.6 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SONO | VXZ |
|---|---|---|
| 2022 | -43.3% | +0.5% |
| 2023 | +1.4% | -44.0% |
| 2024 | -12.3% | -12.7% |
| 2025 | +16.8% | +5.7% |
| 2026 | -14.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SONO and VXZ good diversifiers for each other?
Yes: at -0.48, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SONO and VXZ?
The SONO/VXZ correlation stands at -0.48 on a 3-year window (1 year: -0.31, 5 years: -0.43), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for SONO?
Yes: at -0.48, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.48 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/sono-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sono-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SONO correlations · VXZ correlations
