DMAC vs VXZ: Correlation
DiaMedica Therapeutics Inc. (DMAC) 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 -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DMAC and VXZ?
Over the past 3 years, DMAC and VXZ moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.30 over 3. Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -521.0 %².
VXZ is close to the least connected end of DMAC's tracked universe, ranking #10 of 10. The last year tells two different stories: DMAC led by 29.0 percentage points, +12.9% for DMAC against -16.1% for VXZ. Risk is not evenly split, since DMAC carries 2.7 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.
DMAC vs VXZ: side by side
| DMAC (DiaMedica Therapeutics Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +12.9% | -16.1% |
| 5-year return | +67.5% | -53.1% |
| Volatility (ann.) | 68.6% | 25.6% |
| Beta vs S&P 500 | 1.46 | -1.31 |
| Max drawdown (3Y) | -49.2% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DMAC | VXZ |
|---|---|---|
| 2022 | -57.6% | +0.5% |
| 2023 | +79.7% | -44.0% |
| 2024 | +91.2% | -12.7% |
| 2025 | +46.6% | +5.7% |
| 2026 | -15.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DMAC and VXZ good diversifiers for each other?
Yes. With a correlation of -0.30, DMAC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DMAC and VXZ?
The DMAC/VXZ correlation stands at -0.30 on a 3-year window (1 year: -0.22, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for DMAC?
Yes. With a correlation of -0.30, DMAC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dmac-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dmac-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DMAC correlations · VXZ correlations
