STEM vs VXX: Correlation
Measured on weekly returns over the past three years, Stem, Inc. (STEM) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are STEM and VXX?
Over the past 3 years, STEM and VXX moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.26 lands near the 3-year figure. Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -1810.7 %².
Out of 24 assets tracked against STEM, VXX lands near the bottom at #24. Their recent paths diverged sharply: over the last 12 months VXX outperformed by 15.2 percentage points (-64.9% for STEM against -49.7% for VXX). Risk is not evenly split, since STEM carries 2.1 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.
STEM vs VXX: side by side
| STEM (Stem, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -64.9% | -49.7% |
| 5-year return | -98.9% | -95.6% |
| Volatility (ann.) | 129.9% | 60.9% |
| Beta vs S&P 500 | 2.49 | -3.31 |
| Max drawdown (3Y) | -95.5% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | STEM | VXX |
|---|---|---|
| 2022 | -52.9% | -23.8% |
| 2023 | -56.6% | -72.5% |
| 2024 | -84.5% | -26.2% |
| 2025 | +24.8% | -42.2% |
| 2026 | -62.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are STEM and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between STEM and VXX?
As of 2026-08-27, the correlation of weekly returns between STEM and VXX is -0.23 over 3 years, -0.26 over 1 year and -0.24 over 5 years.
Is VXX a good diversifier for STEM?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 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/stem-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/stem-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: STEM correlations · VXX correlations
