COOK vs VXZ: Correlation
How closely do Traeger, Inc. (COOK) 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 -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COOK and VXZ?
Across a 3-year window, the weekly returns of COOK and VXZ correlate at -0.32, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.49 versus -0.32 over 3 years. Stretching to 5 years gives -0.34, with an annualized covariance of -628.2 %².
VXZ is close to the least connected end of COOK's tracked universe, ranking #10 of 11. Their 12-month results are close: -11.6% for COOK against -16.1% for VXZ. Note the risk asymmetry: COOK runs 3.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
COOK vs VXZ: side by side
| COOK (Traeger, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -11.6% | -16.1% |
| 5-year return | -95.7% | -53.1% |
| Volatility (ann.) | 75.7% | 25.6% |
| Beta vs S&P 500 | 1.90 | -1.31 |
| Max drawdown (3Y) | -89.1% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COOK | VXZ |
|---|---|---|
| 2022 | -76.8% | +0.5% |
| 2023 | -3.2% | -44.0% |
| 2024 | -12.5% | -12.7% |
| 2025 | -54.8% | +5.7% |
| 2026 | +3.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COOK and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between COOK and VXZ?
The COOK/VXZ correlation stands at -0.32 on a 3-year window (1 year: -0.49, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for COOK?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 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/cook-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cook-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COOK correlations · VXZ correlations
