SXI vs VXZ: Correlation
Measured on weekly returns over the past three years, Standex International Corporation (SXI) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.35, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SXI and VXZ?
Over the past 3 years, SXI and VXZ moved with a correlation of -0.35, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -298.2 %².
Among the 12 assets we track against SXI, VXZ sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with SXI ahead by 60.6 points (+44.5% versus -16.1%).
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 VXZ: side by side
| SXI (Standex International Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +44.5% | -16.1% |
| 5-year return | +218.6% | -53.1% |
| Volatility (ann.) | 33.0% | 25.6% |
| Beta vs S&P 500 | 1.04 | -1.31 |
| Max drawdown (3Y) | -38.0% | -36.4% |
| Market cap | $3.7B | – |
| P/E (trailing) | 35.2 | – |
| Dividend yield | 0.44% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SXI | VXZ |
|---|---|---|
| 2022 | -6.5% | +0.5% |
| 2023 | +56.0% | -44.0% |
| 2024 | +18.9% | -12.7% |
| 2025 | +17.0% | +5.7% |
| 2026 | +40.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SXI and VXZ good diversifiers for each other?
Yes. With a correlation of -0.35, SXI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SXI and VXZ?
Using weekly returns as of 2026-08-27: -0.35 over 3 years, with -0.28 over the last year and -0.39 over 5 years.
Is VXZ a good diversifier for SXI?
Yes. With a correlation of -0.35, SXI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.35 mean?
A reading of -0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/sxi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sxi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SXI correlations · VXZ correlations
