DIOD vs VXZ: Correlation
Diodes Incorporated (DIOD) 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 DIOD and VXZ?
Over the past 3 years, DIOD and VXZ moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.26) than the 3-year average (-0.38). Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -494.3 %².
Out of 25 assets tracked against DIOD, VXZ lands near the bottom at #23. Correlation aside, the last 12 months split them widely, with DIOD ahead by 77.8 points (+61.7% versus -16.1%). Note the risk asymmetry: DIOD runs 2.0 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.
DIOD vs VXZ: side by side
| DIOD (Diodes Incorporated) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +61.7% | -16.1% |
| 5-year return | -7.4% | -53.1% |
| Volatility (ann.) | 50.3% | 25.6% |
| Beta vs S&P 500 | 1.84 | -1.31 |
| Max drawdown (3Y) | -60.1% | -36.4% |
| Market cap | $4.2B | – |
| P/E (trailing) | 48.6 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DIOD | VXZ |
|---|---|---|
| 2022 | -30.7% | +0.5% |
| 2023 | +5.8% | -44.0% |
| 2024 | -23.4% | -12.7% |
| 2025 | -20.0% | +5.7% |
| 2026 | +84.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIOD and VXZ good diversifiers for each other?
Yes. With a correlation of -0.38, DIOD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DIOD and VXZ?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.26 over the last year and -0.39 over 5 years.
Is VXZ a good diversifier for DIOD?
Yes. With a correlation of -0.38, DIOD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.38 mean?
A reading of -0.38 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/diod-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/diod-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DIOD correlations · VXZ correlations
