STE vs VXX: Correlation
Steris (STE) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are STE and VXX?
On 3 years of weekly data the STE/VXX correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.19 lands near the 3-year figure. The 5-year figure is -0.30, and annualized covariance runs at -257.5 %².
Among the 33 assets we track against STE, VXX ranks #27 by 3-year correlation. Correlation aside, the last 12 months split them widely, with STE ahead by 44.0 points (-5.7% versus -49.7%). Note the risk asymmetry: VXX runs 2.7 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.
STE vs VXX: side by side
| STE (Steris) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -5.7% | -49.7% |
| 5-year return | +13.6% | -95.6% |
| Volatility (ann.) | 22.3% | 60.9% |
| Beta vs S&P 500 | 0.43 | -3.31 |
| Max drawdown (3Y) | -25.4% | -83.3% |
| Market cap | $22.7B | – |
| P/E (trailing) | 28.5 | – |
| Dividend yield | 1.06% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | STE | VXX |
|---|---|---|
| 2022 | -23.4% | -23.8% |
| 2023 | +20.2% | -72.5% |
| 2024 | -5.6% | -26.2% |
| 2025 | +24.3% | -42.2% |
| 2026 | -7.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are STE and VXX good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between STE and VXX?
The STE/VXX correlation stands at -0.19 on a 3-year window (1 year: -0.19, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for STE?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 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/ste-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ste-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: STE correlations · VXX correlations
