SPMC vs VXZ: Correlation
Sound Point Meridian Capital, Inc. (SPMC) 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 -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPMC and VXZ?
Across a 3-year window, the weekly returns of SPMC and VXZ correlate at -0.33, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.20) than the 3-year average (-0.33). Stretching to 5 years gives n/a, with an annualized covariance of -266.9 %².
Among the 17 assets we track against SPMC, VXZ sits near the bottom by co-movement, at rank #16. Correlation aside, the last 12 months split them widely, with VXZ ahead by 18.5 points (-34.6% versus -16.1%).
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.
SPMC vs VXZ: side by side
| SPMC (Sound Point Meridian Capital, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -34.6% | -16.1% |
| 5-year return | n/a | -53.1% |
| Volatility (ann.) | 31.4% | 25.6% |
| Beta vs S&P 500 | 1.01 | -1.31 |
| Max drawdown (3Y) | -52.9% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 30.91% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SPMC | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | – | -44.0% |
| 2024 | – | -12.7% |
| 2025 | -22.5% | +5.7% |
| 2026 | -20.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPMC and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPMC and VXZ?
The SPMC/VXZ correlation stands at -0.33 on a 3-year window (1 year: -0.20, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for SPMC?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
What does a correlation of -0.33 mean?
On the −1 to +1 scale, -0.33 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/spmc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spmc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPMC correlations · VXZ correlations
