ARKO vs VXZ: Correlation
How closely do ARKO Corp. (ARKO) 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 -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKO and VXZ?
Over the past 3 years, ARKO and VXZ moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.19) sits close to the 3-year figure. Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -339.1 %².
VXZ is close to the least connected end of ARKO's tracked universe, ranking #8 of 10. Over the last 12 months ARKO came out ahead by 6.4 percentage points (-9.7% against -16.1%). One caveat on sizing: ARKO is 2.2 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.
ARKO vs VXZ: side by side
| ARKO (ARKO Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -9.7% | -16.1% |
| 5-year return | -52.2% | -53.1% |
| Volatility (ann.) | 57.6% | 25.6% |
| Beta vs S&P 500 | 1.16 | -1.31 |
| Max drawdown (3Y) | -55.2% | -36.4% |
| Market cap | $0.5B | – |
| P/E (trailing) | 55.8 | – |
| Dividend yield | 2.57% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARKO | VXZ |
|---|---|---|
| 2022 | -0.3% | +0.5% |
| 2023 | -3.3% | -44.0% |
| 2024 | -18.6% | -12.7% |
| 2025 | -29.3% | +5.7% |
| 2026 | -0.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKO and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between ARKO and VXZ?
As of 2026-08-27, the correlation of weekly returns between ARKO and VXZ is -0.23 over 3 years, -0.19 over 1 year and -0.26 over 5 years.
Is VXZ a good diversifier for ARKO?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 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/arko-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/arko-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARKO correlations · VXZ correlations
