SYBT vs VXZ: Correlation
Measured on weekly returns over the past three years, Stock Yards Bancorp, Inc. (SYBT) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.51, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SYBT and VXZ?
Over the past 3 years, SYBT and VXZ moved with a correlation of -0.51, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.36) runs above the 3-year figure (-0.51). Over 5 years the correlation is -0.45, and the annualized covariance of weekly returns is -388.5 %².
Among the 13 assets we track against SYBT, VXZ sits near the bottom by co-movement, at rank #13. Their recent paths diverged sharply: over the last 12 months SYBT outperformed by 15.0 percentage points (-1.1% for SYBT against -16.1% for VXZ).
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 VXZ: side by side
| SYBT (Stock Yards Bancorp, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.1% | -16.1% |
| 5-year return | +73.4% | -53.1% |
| Volatility (ann.) | 29.9% | 25.6% |
| Beta vs S&P 500 | 0.94 | -1.31 |
| Max drawdown (3Y) | -24.2% | -36.4% |
| Market cap | $2.5B | – |
| P/E (trailing) | 16.0 | – |
| Dividend yield | 1.60% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SYBT | VXZ |
|---|---|---|
| 2022 | +3.6% | +0.5% |
| 2023 | -18.8% | -44.0% |
| 2024 | +42.2% | -12.7% |
| 2025 | -7.7% | +5.7% |
| 2026 | +23.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SYBT and VXZ good diversifiers for each other?
Yes. With a correlation of -0.51, SYBT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SYBT and VXZ?
The SYBT/VXZ correlation stands at -0.51 on a 3-year window (1 year: -0.36, 5 years: -0.45), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for SYBT?
Yes. With a correlation of -0.51, SYBT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.51 mean?
A reading of -0.51 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/sybt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sybt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SYBT correlations · VXZ correlations
