SXT vs VXZ: Correlation
Measured on weekly returns over the past three years, Sensient Technologies Corporation (SXT) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SXT and VXZ?
On 3 years of weekly data the SXT/VXZ correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.15 lands near the 3-year figure. The 5-year figure is -0.32, and annualized covariance runs at -199.1 %².
Among the 12 assets we track against SXT, VXZ sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with SXT ahead by 35.6 points (+19.5% 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.
SXT vs VXZ: side by side
| SXT (Sensient Technologies Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +19.5% | -16.1% |
| 5-year return | +70.0% | -53.1% |
| Volatility (ann.) | 34.2% | 25.6% |
| Beta vs S&P 500 | 0.65 | -1.31 |
| Max drawdown (3Y) | -30.7% | -36.4% |
| Market cap | $5.7B | – |
| P/E (trailing) | 36.9 | – |
| Dividend yield | 1.20% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SXT | VXZ |
|---|---|---|
| 2022 | -25.6% | +0.5% |
| 2023 | -7.2% | -44.0% |
| 2024 | +10.5% | -12.7% |
| 2025 | +34.2% | +5.7% |
| 2026 | +43.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SXT and VXZ good diversifiers for each other?
Yes. With a correlation of -0.23, SXT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SXT and VXZ?
As of 2026-08-27, the correlation of weekly returns between SXT and VXZ is -0.23 over 3 years, -0.15 over 1 year and -0.32 over 5 years.
Is VXZ a good diversifier for SXT?
Yes. With a correlation of -0.23, SXT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/sxt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sxt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SXT correlations · VXZ correlations
