SYF vs VXZ: Correlation
Measured on weekly returns over the past three years, Synchrony Financial (SYF) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.62, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SYF and VXZ?
Over the past 3 years, SYF and VXZ moved with a correlation of -0.62, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.54 lands near the 3-year figure. Over 5 years the correlation is -0.55, and the annualized covariance of weekly returns is -499.5 %².
VXZ is close to the least connected end of SYF's tracked universe, ranking #42 of 43. Correlation aside, the last 12 months split them widely, with SYF ahead by 23.4 points (+7.3% 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.
SYF vs VXZ: side by side
| SYF (Synchrony Financial) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +7.3% | -16.1% |
| 5-year return | +81.0% | -53.1% |
| Volatility (ann.) | 31.6% | 25.6% |
| Beta vs S&P 500 | 1.28 | -1.31 |
| Max drawdown (3Y) | -37.7% | -36.4% |
| Market cap | $26.0B | – |
| P/E (trailing) | 8.2 | – |
| Dividend yield | 1.50% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | SYF | VXZ |
|---|---|---|
| 2022 | -27.4% | +0.5% |
| 2023 | +19.8% | -44.0% |
| 2024 | +74.0% | -12.7% |
| 2025 | +30.6% | +5.7% |
| 2026 | -3.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SYF and VXZ good diversifiers for each other?
Yes: at -0.62, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SYF and VXZ?
The SYF/VXZ correlation stands at -0.62 on a 3-year window (1 year: -0.54, 5 years: -0.55), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for SYF?
Yes: at -0.62, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.62 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/syf-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/syf-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SYF correlations · VXZ correlations
