SPNT vs VXX: Correlation
SiriusPoint Ltd. (SPNT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPNT and VXX?
Across a 3-year window, the weekly returns of SPNT and VXX correlate at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.05) than the 3-year average (-0.23). Stretching to 5 years gives -0.24, with an annualized covariance of -385.0 %².
Out of 10 assets tracked against SPNT, VXX lands near the bottom at #8. Correlation aside, the last 12 months split them widely, with SPNT ahead by 79.0 points (+29.3% versus -49.7%). One caveat on sizing: VXX is 2.2 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.
SPNT vs VXX: side by side
| SPNT (SiriusPoint Ltd.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +29.3% | -49.7% |
| 5-year return | +141.9% | -95.6% |
| Volatility (ann.) | 27.4% | 60.9% |
| Beta vs S&P 500 | 0.37 | -3.31 |
| Max drawdown (3Y) | -16.3% | -83.3% |
| Market cap | $2.8B | – |
| P/E (trailing) | 5.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SPNT | VXX |
|---|---|---|
| 2022 | -27.4% | -23.8% |
| 2023 | +96.6% | -72.5% |
| 2024 | +41.3% | -26.2% |
| 2025 | +33.6% | -42.2% |
| 2026 | +10.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPNT and VXX good diversifiers for each other?
Yes. With a correlation of -0.23, SPNT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPNT and VXX?
The SPNT/VXX correlation stands at -0.23 on a 3-year window (1 year: -0.05, 5 years: -0.24), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for SPNT?
Yes. With a correlation of -0.23, SPNT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/spnt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spnt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPNT correlations · VXX correlations
