DNA vs VXZ: Correlation
Ginkgo Bioworks Holdings, Inc. (DNA) 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 -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNA and VXZ?
Across a 3-year window, the weekly returns of DNA and VXZ correlate at -0.24, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.38) runs below the 3-year figure (-0.24). Stretching to 5 years gives -0.32, with an annualized covariance of -604.3 %².
Out of 13 assets tracked against DNA, VXZ lands near the bottom at #11. The last year tells two different stories: VXZ led by 25.1 percentage points, -41.2% for DNA against -16.1% for VXZ. Note the risk asymmetry: DNA runs 3.9 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.
DNA vs VXZ: side by side
| DNA (Ginkgo Bioworks Holdings, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -41.2% | -16.1% |
| 5-year return | -98.2% | -53.1% |
| Volatility (ann.) | 100.2% | 25.6% |
| Beta vs S&P 500 | 2.77 | -1.31 |
| Max drawdown (3Y) | -94.3% | -36.4% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DNA | VXZ |
|---|---|---|
| 2022 | -79.7% | +0.5% |
| 2023 | +0.0% | -44.0% |
| 2024 | -85.5% | -12.7% |
| 2025 | -15.4% | +5.7% |
| 2026 | -12.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNA and VXZ good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DNA and VXZ?
The DNA/VXZ correlation stands at -0.24 on a 3-year window (1 year: -0.38, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for DNA?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 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/dna-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dna-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DNA correlations · VXZ correlations
