DBI vs VXZ: Correlation
Designer Brands Inc. (DBI) 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 -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DBI and VXZ?
Across a 3-year window, the weekly returns of DBI and VXZ correlate at -0.30, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.35) sits close to the 3-year figure. Stretching to 5 years gives -0.31, with an annualized covariance of -642.0 %².
VXZ is close to the least connected end of DBI's tracked universe, ranking #13 of 15. Correlation aside, the last 12 months split them widely, with DBI ahead by 66.6 points (+50.5% versus -16.1%). One caveat on sizing: DBI is 3.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
DBI vs VXZ: side by side
| DBI (Designer Brands Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +50.5% | -16.1% |
| 5-year return | -60.6% | -53.1% |
| Volatility (ann.) | 82.9% | 25.6% |
| Beta vs S&P 500 | 1.72 | -1.31 |
| Max drawdown (3Y) | -81.7% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 26.0 | – |
| Dividend yield | 3.50% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DBI | VXZ |
|---|---|---|
| 2022 | -30.1% | +0.5% |
| 2023 | -7.7% | -44.0% |
| 2024 | -38.0% | -12.7% |
| 2025 | +46.5% | +5.7% |
| 2026 | -25.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DBI and VXZ good diversifiers for each other?
Yes. With a correlation of -0.30, DBI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DBI and VXZ?
As of 2026-08-27, the correlation of weekly returns between DBI and VXZ is -0.30 over 3 years, -0.35 over 1 year and -0.31 over 5 years.
Is VXZ a good diversifier for DBI?
Yes. With a correlation of -0.30, DBI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
A reading of -0.30 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/dbi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dbi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DBI correlations · VXZ correlations
