SYK vs VXZ: Correlation
How closely do Stryker Corporation (SYK) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) 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 VXZ?
On 3 years of weekly data the SYK/VXZ correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.19) than the 3-year average (-0.34). The 5-year figure is -0.40, and annualized covariance runs at -188.3 %².
VXZ is close to the least connected end of SYK's tracked universe, ranking #38 of 38. Their 12-month results are close: -17.2% for SYK 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.
SYK vs VXZ: side by side
| SYK (Stryker Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -17.2% | -16.1% |
| 5-year return | +23.8% | -53.1% |
| Volatility (ann.) | 21.5% | 25.6% |
| Beta vs S&P 500 | 0.61 | -1.31 |
| Max drawdown (3Y) | -29.4% | -36.4% |
| Market cap | $123.6B | – |
| P/E (trailing) | 34.1 | – |
| Dividend yield | 1.06% | – |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | SYK | VXZ |
|---|---|---|
| 2022 | -7.4% | +0.5% |
| 2023 | +23.8% | -44.0% |
| 2024 | +21.3% | -12.7% |
| 2025 | -1.5% | +5.7% |
| 2026 | -7.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SYK and VXZ good diversifiers for each other?
Yes. With a correlation of -0.34, SYK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SYK and VXZ?
As of 2026-08-27, the correlation of weekly returns between SYK and VXZ is -0.34 over 3 years, -0.19 over 1 year and -0.40 over 5 years.
Is VXZ a good diversifier for SYK?
Yes. With a correlation of -0.34, SYK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 mean?
A reading of -0.34 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/syk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/syk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SYK correlations · VXZ correlations
