SSB vs VXZ: Correlation
Measured on weekly returns over the past three years, SouthState Bank Corporation (SSB) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.55, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SSB and VXZ?
Across a 3-year window, the weekly returns of SSB and VXZ correlate at -0.55, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.46 over 1 year against -0.55 over 3. Stretching to 5 years gives -0.49, with an annualized covariance of -399.2 %².
VXZ is close to the least connected end of SSB's tracked universe, ranking #32 of 32. Correlation aside, the last 12 months split them widely, with SSB ahead by 22.9 points (+6.8% 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.
SSB vs VXZ: side by side
| SSB (SouthState Bank Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.8% | -16.1% |
| 5-year return | +76.5% | -53.1% |
| Volatility (ann.) | 28.6% | 25.6% |
| Beta vs S&P 500 | 0.95 | -1.31 |
| Max drawdown (3Y) | -27.6% | -36.4% |
| Market cap | $10.3B | – |
| P/E (trailing) | 11.2 | – |
| Dividend yield | 2.26% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SSB | VXZ |
|---|---|---|
| 2022 | -2.4% | +0.5% |
| 2023 | +13.8% | -44.0% |
| 2024 | +20.7% | -12.7% |
| 2025 | -3.1% | +5.7% |
| 2026 | +14.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SSB and VXZ good diversifiers for each other?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SSB and VXZ?
Using weekly returns as of 2026-08-27: -0.55 over 3 years, with -0.46 over the last year and -0.49 over 5 years.
Is VXZ a good diversifier for SSB?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.55 mean?
A reading of -0.55 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/ssb-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ssb-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SSB correlations · VXZ correlations
