DRVN vs VXZ: Correlation
Measured on weekly returns over the past three years, Driven Brands Holdings Inc. (DRVN) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DRVN and VXZ?
On 3 years of weekly data the DRVN/VXZ correlation comes out at -0.29, 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. The 5-year figure is -0.34, and annualized covariance runs at -321.5 %².
Among the 11 assets we track against DRVN, VXZ sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months VXZ outperformed by 15.1 percentage points (-31.2% for DRVN against -16.1% for VXZ). Risk is not evenly split, since DRVN carries 1.7 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.
DRVN vs VXZ: side by side
| DRVN (Driven Brands Holdings Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -31.2% | -16.1% |
| 5-year return | -57.4% | -53.1% |
| Volatility (ann.) | 43.3% | 25.6% |
| Beta vs S&P 500 | 0.77 | -1.31 |
| Max drawdown (3Y) | -46.4% | -36.4% |
| Market cap | $2.1B | – |
| P/E (trailing) | 13.2 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DRVN | VXZ |
|---|---|---|
| 2022 | -18.8% | +0.5% |
| 2023 | -47.8% | -44.0% |
| 2024 | +13.2% | -12.7% |
| 2025 | -8.2% | +5.7% |
| 2026 | -14.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DRVN and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between DRVN and VXZ?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.26 over the last year and -0.34 over 5 years.
Is VXZ a good diversifier for DRVN?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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/drvn-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/drvn-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DRVN correlations · VXZ correlations
