DKS vs VXZ: Correlation
How closely do Dick's Sporting Goods Inc (DKS) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DKS and VXZ?
Across a 3-year window, the weekly returns of DKS and VXZ correlate at -0.37, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.20) runs above the 3-year figure (-0.37). Stretching to 5 years gives -0.31, with an annualized covariance of -397.7 %².
Out of 18 assets tracked against DKS, VXZ lands near the bottom at #15. The last year tells two different stories: VXZ led by 24.2 percentage points, -40.3% for DKS against -16.1% for VXZ. One caveat on sizing: DKS is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
DKS vs VXZ: side by side
| DKS (Dick's Sporting Goods Inc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -40.3% | -16.1% |
| 5-year return | +8.3% | -53.1% |
| Volatility (ann.) | 41.9% | 25.6% |
| Beta vs S&P 500 | 1.33 | -1.31 |
| Max drawdown (3Y) | -48.5% | -36.4% |
| Market cap | $11.8B | – |
| P/E (trailing) | 14.5 | – |
| Dividend yield | 3.80% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DKS | VXZ |
|---|---|---|
| 2022 | +6.6% | +0.5% |
| 2023 | +25.9% | -44.0% |
| 2024 | +58.9% | -12.7% |
| 2025 | -11.5% | +5.7% |
| 2026 | -32.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DKS and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between DKS and VXZ?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with -0.20 over the last year and -0.31 over 5 years.
Is VXZ a good diversifier for DKS?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 mean?
On the −1 to +1 scale, -0.37 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/dks-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dks-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DKS correlations · VXZ correlations
