CLOV vs VXZ: Correlation
Measured on weekly returns over the past three years, Clover Health Investments, Corp. (CLOV) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLOV and VXZ?
Over the past 3 years, CLOV and VXZ moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.43 versus -0.27 over 3 years. Over 5 years the correlation is -0.28, and the annualized covariance of weekly returns is -536.5 %².
Out of 10 assets tracked against CLOV, VXZ lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with CLOV ahead by 73.3 points (+57.2% versus -16.1%). Risk is not evenly split, since CLOV carries 3.0 times the volatility of the other side.
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.
CLOV vs VXZ: side by side
| CLOV (Clover Health Investments, Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +57.2% | -16.1% |
| 5-year return | -50.1% | -53.1% |
| Volatility (ann.) | 77.7% | 25.6% |
| Beta vs S&P 500 | 1.73 | -1.31 |
| Max drawdown (3Y) | -64.7% | -36.4% |
| Market cap | $2.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLOV | VXZ |
|---|---|---|
| 2022 | -75.0% | +0.5% |
| 2023 | +2.4% | -44.0% |
| 2024 | +230.9% | -12.7% |
| 2025 | -25.4% | +5.7% |
| 2026 | +80.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLOV and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between CLOV and VXZ?
As of 2026-08-27, the correlation of weekly returns between CLOV and VXZ is -0.27 over 3 years, -0.43 over 1 year and -0.28 over 5 years.
Is VXZ a good diversifier for CLOV?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/clov-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clov-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLOV correlations · VXZ correlations
