STZ vs VXX: Correlation
Measured on weekly returns over the past three years, Constellation Brands (STZ) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are STZ and VXX?
Over the past 3 years, STZ and VXX moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.14 over 1 year against -0.21 over 3. Over 5 years the correlation is -0.29, and the annualized covariance of weekly returns is -347.6 %².
By 3-year correlation, VXX places #25 of the 31 assets tracked against STZ. The last year tells two different stories: STZ led by 34.0 percentage points, -15.7% for STZ against -49.7% for VXX. Note the risk asymmetry: VXX runs 2.3 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.
STZ vs VXX: side by side
| STZ (Constellation Brands) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -15.7% | -49.7% |
| 5-year return | -31.9% | -95.6% |
| Volatility (ann.) | 26.6% | 60.9% |
| Beta vs S&P 500 | 0.41 | -3.31 |
| Max drawdown (3Y) | -51.3% | -83.3% |
| Market cap | $22.4B | – |
| P/E (trailing) | 12.8 | – |
| Dividend yield | 3.04% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | STZ | VXX |
|---|---|---|
| 2022 | -6.4% | -23.8% |
| 2023 | +5.8% | -72.5% |
| 2024 | -7.1% | -26.2% |
| 2025 | -36.0% | -42.2% |
| 2026 | -2.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are STZ and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between STZ and VXX?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.14 over the last year and -0.29 over 5 years.
Is VXX a good diversifier for STZ?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/stz-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/stz-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: STZ correlations · VXX correlations
