SXC vs VXX: Correlation
How closely do SunCoke Energy, Inc. (SXC) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SXC and VXX?
On 3 years of weekly data the SXC/VXX correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.02) than the 3-year average (-0.24). The 5-year figure is -0.23, and annualized covariance runs at -603.5 %².
VXX is close to the least connected end of SXC's tracked universe, ranking #17 of 18. Their recent paths diverged sharply: over the last 12 months SXC outperformed by 95.6 percentage points (+45.9% for SXC against -49.7% for VXX). Note the risk asymmetry: VXX runs 1.5 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.
SXC vs VXX: side by side
| SXC (SunCoke Energy, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +45.9% | -49.7% |
| 5-year return | +84.8% | -95.6% |
| Volatility (ann.) | 40.5% | 60.9% |
| Beta vs S&P 500 | 0.74 | -3.31 |
| Max drawdown (3Y) | -52.0% | -83.3% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 4.89% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SXC | VXX |
|---|---|---|
| 2022 | +35.9% | -23.8% |
| 2023 | +29.8% | -72.5% |
| 2024 | +4.0% | -26.2% |
| 2025 | -28.6% | -42.2% |
| 2026 | +49.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SXC and VXX good diversifiers for each other?
Yes. With a correlation of -0.24, SXC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SXC and VXX?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with 0.02 over the last year and -0.23 over 5 years.
Is VXX a good diversifier for SXC?
Yes. With a correlation of -0.24, SXC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/sxc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sxc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SXC correlations · VXX correlations
