COFS vs VXZ: Correlation
Measured on weekly returns over the past three years, ChoiceOne Financial Services, Inc. (COFS) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.42, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COFS and VXZ?
Across a 3-year window, the weekly returns of COFS and VXZ correlate at -0.42, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.42 over 1 year against -0.42 over 3. Stretching to 5 years gives -0.36, with an annualized covariance of -394.1 %².
VXZ is close to the least connected end of COFS's tracked universe, ranking #12 of 12. Correlation aside, the last 12 months split them widely, with COFS ahead by 26.8 points (+10.7% 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.
COFS vs VXZ: side by side
| COFS (ChoiceOne Financial Services, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +10.7% | -16.1% |
| 5-year return | +66.4% | -53.1% |
| Volatility (ann.) | 36.3% | 25.6% |
| Beta vs S&P 500 | 0.84 | -1.31 |
| Max drawdown (3Y) | -34.9% | -36.4% |
| Market cap | $0.5B | – |
| P/E (trailing) | 8.8 | – |
| Dividend yield | 3.43% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COFS | VXZ |
|---|---|---|
| 2022 | +14.4% | +0.5% |
| 2023 | +5.3% | -44.0% |
| 2024 | +26.3% | -12.7% |
| 2025 | -14.0% | +5.7% |
| 2026 | +14.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COFS and VXZ good diversifiers for each other?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between COFS and VXZ?
As of 2026-08-27, the correlation of weekly returns between COFS and VXZ is -0.42 over 3 years, -0.42 over 1 year and -0.36 over 5 years.
Is VXZ a good diversifier for COFS?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.42 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/cofs-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cofs-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COFS correlations · VXZ correlations
