DJCO vs VXZ: Correlation
Measured on weekly returns over the past three years, Daily Journal Corp. (S.C.) (DJCO) 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 DJCO and VXZ?
Across a 3-year window, the weekly returns of DJCO and VXZ correlate at -0.35, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.32) sits close to the 3-year figure. Stretching to 5 years gives -0.34, with an annualized covariance of -359.0 %².
VXZ is close to the least connected end of DJCO's tracked universe, ranking #11 of 11. Correlation aside, the last 12 months split them widely, with DJCO ahead by 51.2 points (+35.1% versus -16.1%). Risk is not evenly split, since DJCO carries 1.5 times the volatility of the other side.
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.
DJCO vs VXZ: side by side
| DJCO (Daily Journal Corp. (S.C.)) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +35.1% | -16.1% |
| 5-year return | +91.2% | -53.1% |
| Volatility (ann.) | 39.6% | 25.6% |
| Beta vs S&P 500 | 0.79 | -1.31 |
| Max drawdown (3Y) | -38.0% | -36.4% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DJCO | VXZ |
|---|---|---|
| 2022 | -29.8% | +0.5% |
| 2023 | +36.1% | -44.0% |
| 2024 | +66.7% | -12.7% |
| 2025 | -14.2% | +5.7% |
| 2026 | +29.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DJCO and VXZ good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DJCO and VXZ?
Using weekly returns as of 2026-08-27: -0.35 over 3 years, with -0.32 over the last year and -0.34 over 5 years.
Is VXZ a good diversifier for DJCO?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
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/djco-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/djco-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DJCO correlations · VXZ correlations
