DT vs VXZ: Correlation
How closely do Dynatrace, Inc. (DT) 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 -0.36, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DT and VXZ?
On 3 years of weekly data the DT/VXZ correlation comes out at -0.36, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.16) runs above the 3-year figure (-0.36). The 5-year figure is -0.40, and annualized covariance runs at -320.0 %².
VXZ is close to the least connected end of DT's tracked universe, ranking #25 of 26. Their recent paths diverged sharply: over the last 12 months DT outperformed by 22.7 percentage points (+6.6% for DT against -16.1% for VXZ).
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.
DT vs VXZ: side by side
| DT (Dynatrace, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.6% | -16.1% |
| 5-year return | -21.5% | -53.1% |
| Volatility (ann.) | 34.3% | 25.6% |
| Beta vs S&P 500 | 1.02 | -1.31 |
| Max drawdown (3Y) | -48.2% | -36.4% |
| Market cap | $15.5B | – |
| P/E (trailing) | 102.8 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DT | VXZ |
|---|---|---|
| 2022 | -36.5% | +0.5% |
| 2023 | +42.8% | -44.0% |
| 2024 | -0.6% | -12.7% |
| 2025 | -20.3% | +5.7% |
| 2026 | +23.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DT and VXZ good diversifiers for each other?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DT and VXZ?
Using weekly returns as of 2026-08-27: -0.36 over 3 years, with -0.16 over the last year and -0.40 over 5 years.
Is VXZ a good diversifier for DT?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.36 mean?
A reading of -0.36 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DT correlations · VXZ correlations
