DRMA vs VXZ: Correlation
Dermata Therapeutics, Inc. (DRMA) 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 -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DRMA and VXZ?
On 3 years of weekly data the DRMA/VXZ correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.30 lands near the 3-year figure. The 5-year figure is -0.19, and annualized covariance runs at -499.7 %².
Among the 13 assets we track against DRMA, VXZ sits near the bottom by co-movement, at rank #13. Their recent paths diverged sharply: over the last 12 months VXZ outperformed by 56.3 percentage points (-72.4% for DRMA against -16.1% for VXZ). One caveat on sizing: DRMA is 3.5 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.
DRMA vs VXZ: side by side
| DRMA (Dermata Therapeutics, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -72.4% | -16.1% |
| 5-year return | -100.0% | -53.1% |
| Volatility (ann.) | 90.1% | 25.6% |
| Beta vs S&P 500 | 1.23 | -1.31 |
| Max drawdown (3Y) | -99.4% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DRMA | VXZ |
|---|---|---|
| 2022 | -76.5% | +0.5% |
| 2023 | -90.7% | -44.0% |
| 2024 | -85.2% | -12.7% |
| 2025 | -82.8% | +5.7% |
| 2026 | -37.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DRMA and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between DRMA and VXZ?
As of 2026-08-27, the correlation of weekly returns between DRMA and VXZ is -0.22 over 3 years, -0.30 over 1 year and -0.19 over 5 years.
Is VXZ a good diversifier for DRMA?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 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/drma-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/drma-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DRMA correlations · VXZ correlations
