DELL vs VXZ: Correlation
Dell Technologies (DELL) 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 -0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DELL and VXZ?
Across a 3-year window, the weekly returns of DELL and VXZ correlate at -0.36, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.13) than the 3-year average (-0.36). Stretching to 5 years gives -0.35, with an annualized covariance of -568.4 %².
Among the 29 assets we track against DELL, VXZ sits near the bottom by co-movement, at rank #27. Their recent paths diverged sharply: over the last 12 months DELL outperformed by 277.1 percentage points (+261.0% for DELL against -16.1% for VXZ). Note the risk asymmetry: DELL runs 2.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
DELL vs VXZ: side by side
| DELL (Dell Technologies) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +261.0% | -16.1% |
| 5-year return | +945.0% | -53.1% |
| Volatility (ann.) | 61.3% | 25.6% |
| Beta vs S&P 500 | 2.02 | -1.31 |
| Max drawdown (3Y) | -59.6% | -36.4% |
| Market cap | $305.1B | – |
| P/E (trailing) | 36.9 | – |
| Dividend yield | 0.48% | – |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | DELL | VXZ |
|---|---|---|
| 2022 | -26.6% | +0.5% |
| 2023 | +95.9% | -44.0% |
| 2024 | +53.0% | -12.7% |
| 2025 | +11.2% | +5.7% |
| 2026 | +278.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DELL and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between DELL and VXZ?
As of 2026-08-27, the correlation of weekly returns between DELL and VXZ is -0.36 over 3 years, -0.13 over 1 year and -0.35 over 5 years.
Is VXZ a good diversifier for DELL?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 mean?
On the −1 to +1 scale, -0.36 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/dell-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dell-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DELL correlations · VXZ correlations
