DGII vs VXZ: Correlation
Digi International Inc. (DGII) 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 -0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGII and VXZ?
Over the past 3 years, DGII and VXZ moved with a correlation of -0.35, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.22) than the 3-year average (-0.35). Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -358.9 %².
VXZ is close to the least connected end of DGII's tracked universe, ranking #9 of 10. Their recent paths diverged sharply: over the last 12 months DGII outperformed by 142.1 percentage points (+126.0% for DGII against -16.1% for VXZ). Note the risk asymmetry: DGII runs 1.6 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.
DGII vs VXZ: side by side
| DGII (Digi International Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +126.0% | -16.1% |
| 5-year return | +253.2% | -53.1% |
| Volatility (ann.) | 40.0% | 25.6% |
| Beta vs S&P 500 | 1.26 | -1.31 |
| Max drawdown (3Y) | -35.2% | -36.4% |
| Market cap | $2.9B | – |
| P/E (trailing) | 60.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DGII | VXZ |
|---|---|---|
| 2022 | +48.8% | +0.5% |
| 2023 | -28.9% | -44.0% |
| 2024 | +16.3% | -12.7% |
| 2025 | +43.2% | +5.7% |
| 2026 | +78.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGII and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between DGII and VXZ?
The DGII/VXZ correlation stands at -0.35 on a 3-year window (1 year: -0.22, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for DGII?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 mean?
On the −1 to +1 scale, -0.35 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/dgii-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgii-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGII correlations · VXZ correlations
