DEO vs VXZ: Correlation
How closely do Diageo plc (DEO) 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 -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DEO and VXZ?
On 3 years of weekly data the DEO/VXZ correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. The 5-year figure is -0.31, and annualized covariance runs at -163.8 %².
Out of 13 assets tracked against DEO, VXZ lands near the bottom at #11. Neither side won the trailing year by much: -14.8% against -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.
DEO vs VXZ: side by side
| DEO (Diageo plc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -14.8% | -16.1% |
| 5-year return | -45.7% | -53.1% |
| Volatility (ann.) | 26.8% | 25.6% |
| Beta vs S&P 500 | 0.68 | -1.31 |
| Max drawdown (3Y) | -54.4% | -36.4% |
| Market cap | $51.2B | – |
| P/E (trailing) | 29.5 | – |
| Dividend yield | 0.53% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DEO | VXZ |
|---|---|---|
| 2022 | -17.4% | +0.5% |
| 2023 | -16.3% | -44.0% |
| 2024 | -10.1% | -12.7% |
| 2025 | -29.3% | +5.7% |
| 2026 | +7.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DEO and VXZ good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DEO and VXZ?
The DEO/VXZ correlation stands at -0.24 on a 3-year window (1 year: -0.25, 5 years: -0.31), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for DEO?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
A reading of -0.24 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/deo-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/deo-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DEO correlations · VXZ correlations
