DOLE vs VXZ: Correlation
How closely do Dole plc (DOLE) 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 -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOLE and VXZ?
Over the past 3 years, DOLE and VXZ moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -175.1 %².
Out of 13 assets tracked against DOLE, VXZ lands near the bottom at #13. The trailing year gives DOLE the advantage: -5.5% versus -16.1%, a 10.6-point spread.
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.
DOLE vs VXZ: side by side
| DOLE (Dole plc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -5.5% | -16.1% |
| 5-year return | -3.9% | -53.1% |
| Volatility (ann.) | 24.2% | 25.6% |
| Beta vs S&P 500 | 0.28 | -1.31 |
| Max drawdown (3Y) | -27.7% | -36.4% |
| Market cap | $1.3B | – |
| P/E (trailing) | 18.5 | – |
| Dividend yield | 2.49% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DOLE | VXZ |
|---|---|---|
| 2022 | -25.3% | +0.5% |
| 2023 | +30.8% | -44.0% |
| 2024 | +12.8% | -12.7% |
| 2025 | +12.0% | +5.7% |
| 2026 | -7.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOLE and VXZ good diversifiers for each other?
Yes. With a correlation of -0.28, DOLE and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DOLE and VXZ?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.23 over the last year and -0.32 over 5 years.
Is VXZ a good diversifier for DOLE?
Yes. With a correlation of -0.28, DOLE and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 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/dole-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dole-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DOLE correlations · VXZ correlations
