SSTK vs VXZ: Correlation
Shutterstock, Inc. (SSTK) 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 -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SSTK and VXZ?
On 3 years of weekly data the SSTK/VXZ correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.05 versus -0.27 over 3 years. The 5-year figure is -0.34, and annualized covariance runs at -345.8 %².
Out of 11 assets tracked against SSTK, VXZ lands near the bottom at #9. The last year tells two different stories: VXZ led by 55.0 percentage points, -71.1% for SSTK against -16.1% for VXZ. Risk is not evenly split, since SSTK carries 2.0 times the volatility of the other side.
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.
SSTK vs VXZ: side by side
| SSTK (Shutterstock, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -71.1% | -16.1% |
| 5-year return | -94.3% | -53.1% |
| Volatility (ann.) | 50.0% | 25.6% |
| Beta vs S&P 500 | 1.21 | -1.31 |
| Max drawdown (3Y) | -88.2% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 24.91% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SSTK | VXZ |
|---|---|---|
| 2022 | -51.7% | +0.5% |
| 2023 | -6.4% | -44.0% |
| 2024 | -35.1% | -12.7% |
| 2025 | -32.7% | +5.7% |
| 2026 | -69.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SSTK and VXZ good diversifiers for each other?
Yes. With a correlation of -0.27, SSTK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SSTK and VXZ?
The SSTK/VXZ correlation stands at -0.27 on a 3-year window (1 year: -0.05, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for SSTK?
Yes. With a correlation of -0.27, SSTK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 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/sstk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sstk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SSTK correlations · VXZ correlations
