SPB vs VXZ: Correlation
Spectrum Brands Holdings, Inc. (SPB) 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 -0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPB and VXZ?
Over the past 3 years, SPB and VXZ moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.25) runs above the 3-year figure (-0.36). Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -297.8 %².
VXZ is close to the least connected end of SPB's tracked universe, ranking #12 of 13. The last year tells two different stories: SPB led by 76.8 percentage points, +60.7% for SPB 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.
SPB vs VXZ: side by side
| SPB (Spectrum Brands Holdings, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +60.7% | -16.1% |
| 5-year return | +26.1% | -53.1% |
| Volatility (ann.) | 31.9% | 25.6% |
| Beta vs S&P 500 | 0.83 | -1.31 |
| Max drawdown (3Y) | -46.3% | -36.4% |
| Market cap | $2.0B | – |
| P/E (trailing) | 27.7 | – |
| Dividend yield | 2.11% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SPB | VXZ |
|---|---|---|
| 2022 | -38.7% | +0.5% |
| 2023 | +34.1% | -44.0% |
| 2024 | +8.0% | -12.7% |
| 2025 | -27.9% | +5.7% |
| 2026 | +52.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPB and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPB and VXZ?
The SPB/VXZ correlation stands at -0.36 on a 3-year window (1 year: -0.25, 5 years: -0.36), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for SPB?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 mean?
A reading of -0.36 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/spb-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spb-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPB correlations · VXZ correlations
