SYBT vs VXX: Correlation
Stock Yards Bancorp, Inc. (SYBT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SYBT and VXX?
Across a 3-year window, the weekly returns of SYBT and VXX correlate at -0.47, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.21) than the 3-year average (-0.47). Stretching to 5 years gives -0.41, with an annualized covariance of -855.6 %².
VXX is close to the least connected end of SYBT's tracked universe, ranking #12 of 13. Correlation aside, the last 12 months split them widely, with SYBT ahead by 48.6 points (-1.1% versus -49.7%). One caveat on sizing: VXX is 2.0 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.
SYBT vs VXX: side by side
| SYBT (Stock Yards Bancorp, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.1% | -49.7% |
| 5-year return | +73.4% | -95.6% |
| Volatility (ann.) | 29.9% | 60.9% |
| Beta vs S&P 500 | 0.94 | -3.31 |
| Max drawdown (3Y) | -24.2% | -83.3% |
| Market cap | $2.5B | – |
| P/E (trailing) | 16.0 | – |
| Dividend yield | 1.60% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SYBT | VXX |
|---|---|---|
| 2022 | +3.6% | -23.8% |
| 2023 | -18.8% | -72.5% |
| 2024 | +42.2% | -26.2% |
| 2025 | -7.7% | -42.2% |
| 2026 | +23.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SYBT and VXX good diversifiers for each other?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SYBT and VXX?
The SYBT/VXX correlation stands at -0.47 on a 3-year window (1 year: -0.21, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for SYBT?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.47 mean?
On the −1 to +1 scale, -0.47 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/sybt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sybt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SYBT correlations · VXX correlations
