DHI vs VXZ: Correlation
Measured on weekly returns over the past three years, D. R. Horton (DHI) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.35, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHI and VXZ?
Over the past 3 years, DHI and VXZ moved with a correlation of -0.35, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.43) sits close to the 3-year figure. Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -296.7 %².
VXZ is close to the least connected end of DHI's tracked universe, ranking #31 of 31. Twelve-month performance is nearly a tie, at -12.2% for DHI and -16.1% for VXZ.
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.
DHI vs VXZ: side by side
| DHI (D. R. Horton) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -12.2% | -16.1% |
| 5-year return | +59.2% | -53.1% |
| Volatility (ann.) | 33.5% | 25.6% |
| Beta vs S&P 500 | 0.79 | -1.31 |
| Max drawdown (3Y) | -41.3% | -36.4% |
| Market cap | $40.6B | – |
| P/E (trailing) | 14.2 | – |
| Dividend yield | 1.17% | – |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | DHI | VXZ |
|---|---|---|
| 2022 | -16.8% | +0.5% |
| 2023 | +72.1% | -44.0% |
| 2024 | -7.2% | -12.7% |
| 2025 | +4.2% | +5.7% |
| 2026 | +1.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHI and VXZ good diversifiers for each other?
Yes. With a correlation of -0.35, DHI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DHI and VXZ?
Using weekly returns as of 2026-08-27: -0.35 over 3 years, with -0.43 over the last year and -0.38 over 5 years.
Is VXZ a good diversifier for DHI?
Yes. With a correlation of -0.35, DHI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/dhi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dhi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DHI correlations · VXZ correlations
