COLM vs VXZ: Correlation
Columbia Sportswear Company (COLM) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COLM and VXZ?
Across a 3-year window, the weekly returns of COLM and VXZ correlate at -0.28, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.28 over 3. Stretching to 5 years gives -0.37, with an annualized covariance of -219.5 %².
Out of 17 assets tracked against COLM, VXZ lands near the bottom at #16. The last year tells two different stories: COLM led by 21.3 percentage points, +5.2% for COLM 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.
COLM vs VXZ: side by side
| COLM (Columbia Sportswear Company) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +5.2% | -16.1% |
| 5-year return | -40.1% | -53.1% |
| Volatility (ann.) | 31.1% | 25.6% |
| Beta vs S&P 500 | 0.58 | -1.31 |
| Max drawdown (3Y) | -46.1% | -36.4% |
| Market cap | $2.9B | – |
| P/E (trailing) | 15.2 | – |
| Dividend yield | 2.06% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COLM | VXZ |
|---|---|---|
| 2022 | -8.8% | +0.5% |
| 2023 | -7.8% | -44.0% |
| 2024 | +7.1% | -12.7% |
| 2025 | -33.1% | +5.7% |
| 2026 | +4.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COLM and VXZ good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between COLM and VXZ?
The COLM/VXZ correlation stands at -0.28 on a 3-year window (1 year: -0.27, 5 years: -0.37), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for COLM?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
A reading of -0.28 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/colm-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/colm-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COLM correlations · VXZ correlations
