SXC vs VXZ: Correlation
SunCoke Energy, Inc. (SXC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SXC and VXZ?
Over the past 3 years, SXC and VXZ moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.01 versus -0.22 over 3 years. Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -232.7 %².
VXZ is close to the least connected end of SXC's tracked universe, ranking #16 of 18. Their recent paths diverged sharply: over the last 12 months SXC outperformed by 62.0 percentage points (+45.9% for SXC against -16.1% for VXZ). One caveat on sizing: SXC is 1.6 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.
SXC vs VXZ: side by side
| SXC (SunCoke Energy, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +45.9% | -16.1% |
| 5-year return | +84.8% | -53.1% |
| Volatility (ann.) | 40.5% | 25.6% |
| Beta vs S&P 500 | 0.74 | -1.31 |
| Max drawdown (3Y) | -52.0% | -36.4% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 4.89% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SXC | VXZ |
|---|---|---|
| 2022 | +35.9% | +0.5% |
| 2023 | +29.8% | -44.0% |
| 2024 | +4.0% | -12.7% |
| 2025 | -28.6% | +5.7% |
| 2026 | +49.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SXC and VXZ good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SXC and VXZ?
As of 2026-08-27, the correlation of weekly returns between SXC and VXZ is -0.22 over 3 years, -0.01 over 1 year and -0.25 over 5 years.
Is VXZ a good diversifier for SXC?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sxc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SXC correlations · VXZ correlations
