DAR vs VXZ: Correlation
Darling Ingredients Inc. (DAR) 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 -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DAR and VXZ?
On 3 years of weekly data the DAR/VXZ correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.03) than the 3-year average (-0.27). The 5-year figure is -0.27, and annualized covariance runs at -262.4 %².
Among the 13 assets we track against DAR, VXZ sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with DAR ahead by 94.4 points (+78.3% 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.
DAR vs VXZ: side by side
| DAR (Darling Ingredients Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +78.3% | -16.1% |
| 5-year return | -19.2% | -53.1% |
| Volatility (ann.) | 37.8% | 25.6% |
| Beta vs S&P 500 | 0.63 | -1.31 |
| Max drawdown (3Y) | -56.0% | -36.4% |
| Market cap | $9.7B | – |
| P/E (trailing) | 16.8 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DAR | VXZ |
|---|---|---|
| 2022 | -9.7% | +0.5% |
| 2023 | -20.4% | -44.0% |
| 2024 | -32.4% | -12.7% |
| 2025 | +6.9% | +5.7% |
| 2026 | +70.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DAR 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 DAR and VXZ?
As of 2026-08-27, the correlation of weekly returns between DAR and VXZ is -0.27 over 3 years, -0.03 over 1 year and -0.27 over 5 years.
Is VXZ a good diversifier for DAR?
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?
A reading of -0.27 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/dar-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dar-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DAR correlations · VXZ correlations
