DCTH vs VXZ: Correlation
How closely do Delcath Systems, Inc. (DCTH) 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 -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DCTH and VXZ?
On 3 years of weekly data the DCTH/VXZ correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.26) sits close to the 3-year figure. The 5-year figure is -0.18, and annualized covariance runs at -569.0 %².
VXZ is close to the least connected end of DCTH's tracked universe, ranking #10 of 10. The last year tells two different stories: DCTH led by 65.9 percentage points, +49.8% for DCTH against -16.1% for VXZ. One caveat on sizing: DCTH is 2.6 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.
DCTH vs VXZ: side by side
| DCTH (Delcath Systems, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +49.8% | -16.1% |
| 5-year return | +80.7% | -53.1% |
| Volatility (ann.) | 65.8% | 25.6% |
| Beta vs S&P 500 | 1.51 | -1.31 |
| Max drawdown (3Y) | -54.8% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | 1639.0 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DCTH | VXZ |
|---|---|---|
| 2022 | -53.5% | +0.5% |
| 2023 | +15.6% | -44.0% |
| 2024 | +189.4% | -12.7% |
| 2025 | -16.1% | +5.7% |
| 2026 | +62.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DCTH and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between DCTH and VXZ?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.26 over the last year and -0.18 over 5 years.
Is VXZ a good diversifier for DCTH?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 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/dcth-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dcth-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DCTH correlations · VXZ correlations
