SRV vs VXZ: Correlation
Measured on weekly returns over the past three years, NXG Cushing Midstream Energy Fund (SRV) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SRV and VXZ?
Over the past 3 years, SRV and VXZ moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.19 versus -0.24 over 3 years. Over 5 years the correlation is -0.30, and the annualized covariance of weekly returns is -154.8 %².
Out of 12 assets tracked against SRV, VXZ lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months SRV outperformed by 41.9 percentage points (+25.8% for SRV 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.
SRV vs VXZ: side by side
| SRV (NXG Cushing Midstream Energy Fund) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +25.8% | -16.1% |
| 5-year return | +220.3% | -53.1% |
| Volatility (ann.) | 25.1% | 25.6% |
| Beta vs S&P 500 | 0.46 | -1.31 |
| Max drawdown (3Y) | -26.3% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 3.1 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SRV | VXZ |
|---|---|---|
| 2022 | +20.1% | +0.5% |
| 2023 | +16.8% | -44.0% |
| 2024 | +50.7% | -12.7% |
| 2025 | +5.0% | +5.7% |
| 2026 | +26.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SRV and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between SRV and VXZ?
The SRV/VXZ correlation stands at -0.24 on a 3-year window (1 year: 0.19, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for SRV?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 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/srv-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/srv-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SRV correlations · VXZ correlations
