SPPL vs VXZ: Correlation
SIMPPLE LTD. (SPPL) 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 -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPPL and VXZ?
Over the past 3 years, SPPL and VXZ moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.15) runs above the 3-year figure (-0.31). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1380.3 %².
Out of 13 assets tracked against SPPL, VXZ lands near the bottom at #12. The trailing year gives VXZ the advantage: -31.0% versus -16.1%, a 14.9-point spread. One caveat on sizing: SPPL is 6.7 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.
SPPL vs VXZ: side by side
| SPPL (SIMPPLE LTD.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -31.0% | -16.1% |
| 5-year return | n/a | -53.1% |
| Volatility (ann.) | 172.3% | 25.6% |
| Beta vs S&P 500 | 3.00 | -1.31 |
| Max drawdown (3Y) | -97.6% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SPPL | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | – | -44.0% |
| 2024 | -83.1% | -12.7% |
| 2025 | -46.9% | +5.7% |
| 2026 | -49.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPPL and VXZ good diversifiers for each other?
Yes. With a correlation of -0.31, SPPL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPPL and VXZ?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.15 over the last year and n/a over 5 years.
Is VXZ a good diversifier for SPPL?
Yes. With a correlation of -0.31, SPPL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
A reading of -0.31 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/sppl-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sppl-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPPL correlations · VXZ correlations
