DCI vs VXZ: Correlation
Donaldson Company, Inc. (DCI) 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 -0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DCI and VXZ?
Over the past 3 years, DCI and VXZ moved with a correlation of -0.45, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.31 versus -0.45 over 3 years. Over 5 years the correlation is -0.53, and the annualized covariance of weekly returns is -240.0 %².
Among the 15 assets we track against DCI, VXZ sits near the bottom by co-movement, at rank #15. Their recent paths diverged sharply: over the last 12 months DCI outperformed by 30.1 percentage points (+14.0% for DCI 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.
DCI vs VXZ: side by side
| DCI (Donaldson Company, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +14.0% | -16.1% |
| 5-year return | +44.4% | -53.1% |
| Volatility (ann.) | 21.0% | 25.6% |
| Beta vs S&P 500 | 0.74 | -1.31 |
| Max drawdown (3Y) | -26.0% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | 24.8 | – |
| Dividend yield | 1.30% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DCI | VXZ |
|---|---|---|
| 2022 | +1.0% | +0.5% |
| 2023 | +12.8% | -44.0% |
| 2024 | +4.6% | -12.7% |
| 2025 | +33.7% | +5.7% |
| 2026 | +5.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DCI and VXZ good diversifiers for each other?
Yes: at -0.45, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DCI and VXZ?
As of 2026-08-27, the correlation of weekly returns between DCI and VXZ is -0.45 over 3 years, -0.31 over 1 year and -0.53 over 5 years.
Is VXZ a good diversifier for DCI?
Yes: at -0.45, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.45 mean?
On the −1 to +1 scale, -0.45 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/dci-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dci-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DCI correlations · VXZ correlations
