DPRO vs VXZ: Correlation
How closely do Draganfly Inc. (DPRO) 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 -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DPRO and VXZ?
Over the past 3 years, DPRO and VXZ moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.26) sits close to the 3-year figure. Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -689.4 %².
Among the 12 assets we track against DPRO, VXZ sits near the bottom by co-movement, at rank #11. The trailing year gives DPRO the advantage: -5.2% versus -16.1%, a 10.9-point spread. Risk is not evenly split, since DPRO carries 4.6 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.
DPRO vs VXZ: side by side
| DPRO (Draganfly Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -5.2% | -16.1% |
| 5-year return | -93.9% | -53.1% |
| Volatility (ann.) | 118.7% | 25.6% |
| Beta vs S&P 500 | 2.21 | -1.31 |
| Max drawdown (3Y) | -92.7% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DPRO | VXZ |
|---|---|---|
| 2022 | -54.0% | +0.5% |
| 2023 | -36.0% | -44.0% |
| 2024 | -66.6% | -12.7% |
| 2025 | +72.3% | +5.7% |
| 2026 | -36.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DPRO and VXZ good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DPRO and VXZ?
As of 2026-08-27, the correlation of weekly returns between DPRO and VXZ is -0.23 over 3 years, -0.26 over 1 year and -0.25 over 5 years.
Is VXZ a good diversifier for DPRO?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/dpro-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dpro-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DPRO correlations · VXZ correlations
