STN vs VXZ: Correlation
How closely do Stantec Inc (STN) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are STN and VXZ?
Over the past 3 years, STN and VXZ moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.40 over 1 year against -0.32 over 3. Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -196.7 %².
Among the 11 assets we track against STN, VXZ sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months VXZ outperformed by 15.3 percentage points (-31.4% for STN against -16.1% for VXZ).
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.
STN vs VXZ: side by side
| STN (Stantec Inc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -31.4% | -16.1% |
| 5-year return | +62.2% | -53.1% |
| Volatility (ann.) | 24.1% | 25.6% |
| Beta vs S&P 500 | 0.70 | -1.31 |
| Max drawdown (3Y) | -41.0% | -36.4% |
| Market cap | $8.4B | – |
| P/E (trailing) | 23.6 | – |
| Dividend yield | 1.25% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | STN | VXZ |
|---|---|---|
| 2022 | -13.8% | +0.5% |
| 2023 | +68.8% | -44.0% |
| 2024 | -1.4% | -12.7% |
| 2025 | +20.7% | +5.7% |
| 2026 | -20.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are STN and VXZ good diversifiers for each other?
Yes. With a correlation of -0.32, STN and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between STN and VXZ?
Using weekly returns as of 2026-08-27: -0.32 over 3 years, with -0.40 over the last year and -0.37 over 5 years.
Is VXZ a good diversifier for STN?
Yes. With a correlation of -0.32, STN and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/stn-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/stn-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: STN correlations · VXZ correlations
