STNE vs VXZ: Correlation
Measured on weekly returns over the past three years, StoneCo Ltd. - Class A Common Share (STNE) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are STNE and VXZ?
Over the past 3 years, STNE and VXZ moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.45 lands near the 3-year figure. Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -457.8 %².
VXZ is close to the least connected end of STNE's tracked universe, ranking #12 of 13. On 12-month performance VXZ holds a 11.2-point edge, -27.3% against -16.1%. One caveat on sizing: STNE is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
STNE vs VXZ: side by side
| STNE (StoneCo Ltd. - Class A Common Share) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -27.3% | -16.1% |
| 5-year return | -76.6% | -53.1% |
| Volatility (ann.) | 48.1% | 25.6% |
| Beta vs S&P 500 | 1.41 | -1.31 |
| Max drawdown (3Y) | -57.6% | -36.4% |
| Market cap | $2.2B | – |
| P/E (trailing) | 3.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | STNE | VXZ |
|---|---|---|
| 2022 | -44.0% | +0.5% |
| 2023 | +91.0% | -44.0% |
| 2024 | -55.8% | -12.7% |
| 2025 | +85.6% | +5.7% |
| 2026 | -21.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are STNE and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between STNE and VXZ?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with -0.45 over the last year and -0.40 over 5 years.
Is VXZ a good diversifier for STNE?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 mean?
On the −1 to +1 scale, -0.37 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/stne-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/stne-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: STNE correlations · VXZ correlations
