DH vs VXZ: Correlation
Definitive Healthcare Corp. (DH) 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 -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DH and VXZ?
Over the past 3 years, DH and VXZ moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.42) sits close to the 3-year figure. Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -628.5 %².
Out of 14 assets tracked against DH, VXZ lands near the bottom at #13. Correlation aside, the last 12 months split them widely, with VXZ ahead by 63.7 points (-79.8% versus -16.1%). Note the risk asymmetry: DH runs 2.5 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.
DH vs VXZ: side by side
| DH (Definitive Healthcare Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -79.8% | -16.1% |
| 5-year return | -98.1% | -53.1% |
| Volatility (ann.) | 65.1% | 25.6% |
| Beta vs S&P 500 | 1.74 | -1.31 |
| Max drawdown (3Y) | -93.9% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DH | VXZ |
|---|---|---|
| 2022 | -59.8% | +0.5% |
| 2023 | -9.6% | -44.0% |
| 2024 | -58.7% | -12.7% |
| 2025 | -30.2% | +5.7% |
| 2026 | -71.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DH and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between DH and VXZ?
The DH/VXZ correlation stands at -0.38 on a 3-year window (1 year: -0.42, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for DH?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 mean?
On the −1 to +1 scale, -0.38 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/dh-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dh-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DH correlations · VXZ correlations
