SXI vs VXX: Correlation
Measured on weekly returns over the past three years, Standex International Corporation (SXI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) 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 SXI and VXX?
Over the past 3 years, SXI and VXX moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.20) than the 3-year average (-0.37). Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -751.0 %².
VXX is close to the least connected end of SXI's tracked universe, ranking #12 of 12. The last year tells two different stories: SXI led by 94.2 percentage points, +44.5% for SXI against -49.7% for VXX. One caveat on sizing: VXX is 1.8 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.
SXI vs VXX: side by side
| SXI (Standex International Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +44.5% | -49.7% |
| 5-year return | +218.6% | -95.6% |
| Volatility (ann.) | 33.0% | 60.9% |
| Beta vs S&P 500 | 1.04 | -3.31 |
| Max drawdown (3Y) | -38.0% | -83.3% |
| Market cap | $3.7B | – |
| P/E (trailing) | 35.2 | – |
| Dividend yield | 0.44% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SXI | VXX |
|---|---|---|
| 2022 | -6.5% | -23.8% |
| 2023 | +56.0% | -72.5% |
| 2024 | +18.9% | -26.2% |
| 2025 | +17.0% | -42.2% |
| 2026 | +40.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SXI and VXX 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 SXI and VXX?
As of 2026-08-27, the correlation of weekly returns between SXI and VXX is -0.37 over 3 years, -0.20 over 1 year and -0.37 over 5 years.
Is VXX a good diversifier for SXI?
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?
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/sxi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sxi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SXI correlations · VXX correlations
