DAL vs VXZ: Correlation
How closely do Delta Air Lines (DAL) 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 -0.44, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DAL and VXZ?
On 3 years of weekly data the DAL/VXZ correlation comes out at -0.44, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.46 lands near the 3-year figure. The 5-year figure is -0.47, and annualized covariance runs at -415.9 %².
Among the 33 assets we track against DAL, VXZ sits near the bottom by co-movement, at rank #32. Correlation aside, the last 12 months split them widely, with DAL ahead by 50.0 points (+33.9% 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.
DAL vs VXZ: side by side
| DAL (Delta Air Lines) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +33.9% | -16.1% |
| 5-year return | +110.6% | -53.1% |
| Volatility (ann.) | 37.1% | 25.6% |
| Beta vs S&P 500 | 1.17 | -1.31 |
| Max drawdown (3Y) | -47.9% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | 13.8 | – |
| Dividend yield | 0.94% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | DAL | VXZ |
|---|---|---|
| 2022 | -15.9% | +0.5% |
| 2023 | +23.0% | -44.0% |
| 2024 | +52.0% | -12.7% |
| 2025 | +16.1% | +5.7% |
| 2026 | +17.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DAL and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between DAL and VXZ?
Using weekly returns as of 2026-08-27: -0.44 over 3 years, with -0.46 over the last year and -0.47 over 5 years.
Is VXZ a good diversifier for DAL?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 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/dal-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dal-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DAL correlations · VXZ correlations
