SYK vs VXX: Correlation
How closely do Stryker Corporation (SYK) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SYK and VXX?
Over the past 3 years, SYK and VXX moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.15) runs above the 3-year figure (-0.34). Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -443.0 %².
VXX is close to the least connected end of SYK's tracked universe, ranking #37 of 38. Their recent paths diverged sharply: over the last 12 months SYK outperformed by 32.5 percentage points (-17.2% for SYK against -49.7% for VXX). One caveat on sizing: VXX is 2.8 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.
SYK vs VXX: side by side
| SYK (Stryker Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -17.2% | -49.7% |
| 5-year return | +23.8% | -95.6% |
| Volatility (ann.) | 21.5% | 60.9% |
| Beta vs S&P 500 | 0.61 | -3.31 |
| Max drawdown (3Y) | -29.4% | -83.3% |
| Market cap | $123.6B | – |
| P/E (trailing) | 34.1 | – |
| Dividend yield | 1.06% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | SYK | VXX |
|---|---|---|
| 2022 | -7.4% | -23.8% |
| 2023 | +23.8% | -72.5% |
| 2024 | +21.3% | -26.2% |
| 2025 | -1.5% | -42.2% |
| 2026 | -7.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SYK and VXX good diversifiers for each other?
Yes. With a correlation of -0.34, SYK and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SYK and VXX?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.15 over the last year and -0.37 over 5 years.
Is VXX a good diversifier for SYK?
Yes. With a correlation of -0.34, SYK and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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/syk-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/syk-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SYK correlations · VXX correlations
