STRO vs VXZ: Correlation
Measured on weekly returns over the past three years, Sutro Biopharma, Inc. (STRO) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are STRO and VXZ?
Over the past 3 years, STRO and VXZ moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.07 versus -0.29 over 3 years. Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -838.5 %².
VXZ is close to the least connected end of STRO's tracked universe, ranking #12 of 13. Correlation aside, the last 12 months split them widely, with STRO ahead by 152.9 points (+136.8% versus -16.1%). Note the risk asymmetry: STRO runs 4.4 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.
STRO vs VXZ: side by side
| STRO (Sutro Biopharma, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +136.8% | -16.1% |
| 5-year return | -90.2% | -53.1% |
| Volatility (ann.) | 112.5% | 25.6% |
| Beta vs S&P 500 | 3.52 | -1.31 |
| Max drawdown (3Y) | -90.8% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | STRO | VXZ |
|---|---|---|
| 2022 | -45.7% | +0.5% |
| 2023 | -46.9% | -44.0% |
| 2024 | -57.1% | -12.7% |
| 2025 | -37.1% | +5.7% |
| 2026 | +84.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are STRO and VXZ good diversifiers for each other?
Yes. With a correlation of -0.29, STRO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between STRO and VXZ?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.07 over the last year and -0.26 over 5 years.
Is VXZ a good diversifier for STRO?
Yes. With a correlation of -0.29, STRO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 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/stro-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/stro-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: STRO correlations · VXZ correlations
