SSYS vs VXZ: Correlation
Measured on weekly returns over the past three years, Stratasys, Ltd. (SSYS) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.36, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SSYS and VXZ?
Over the past 3 years, SSYS and VXZ moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.50 versus -0.36 over 3 years. Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -472.4 %².
Out of 11 assets tracked against SSYS, VXZ lands near the bottom at #10. The trailing year gives VXZ the advantage: -27.7% versus -16.1%, a 11.6-point spread. Note the risk asymmetry: SSYS runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
SSYS vs VXZ: side by side
| SSYS (Stratasys, Ltd.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -27.7% | -16.1% |
| 5-year return | -61.1% | -53.1% |
| Volatility (ann.) | 50.7% | 25.6% |
| Beta vs S&P 500 | 1.38 | -1.31 |
| Max drawdown (3Y) | -58.4% | -36.4% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SSYS | VXZ |
|---|---|---|
| 2022 | -51.6% | +0.5% |
| 2023 | +20.4% | -44.0% |
| 2024 | -37.7% | -12.7% |
| 2025 | -2.4% | +5.7% |
| 2026 | -8.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SSYS and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between SSYS and VXZ?
As of 2026-08-27, the correlation of weekly returns between SSYS and VXZ is -0.36 over 3 years, -0.50 over 1 year and -0.40 over 5 years.
Is VXZ a good diversifier for SSYS?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 mean?
A reading of -0.36 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/ssys-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ssys-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SSYS correlations · VXZ correlations
