DTM vs VXZ: Correlation
DT Midstream, Inc. (DTM) 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 -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DTM and VXZ?
Across a 3-year window, the weekly returns of DTM and VXZ correlate at -0.27, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.10) runs above the 3-year figure (-0.27). Stretching to 5 years gives -0.29, with an annualized covariance of -165.3 %².
Among the 17 assets we track against DTM, VXZ sits near the bottom by co-movement, at rank #17. Their recent paths diverged sharply: over the last 12 months DTM outperformed by 49.0 percentage points (+32.9% for DTM 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.
DTM vs VXZ: side by side
| DTM (DT Midstream, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +32.9% | -16.1% |
| 5-year return | +248.3% | -53.1% |
| Volatility (ann.) | 23.9% | 25.6% |
| Beta vs S&P 500 | 0.42 | -1.31 |
| Max drawdown (3Y) | -23.6% | -36.4% |
| Market cap | $13.4B | – |
| P/E (trailing) | 29.1 | – |
| Dividend yield | 2.57% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DTM | VXZ |
|---|---|---|
| 2022 | +20.7% | +0.5% |
| 2023 | +4.7% | -44.0% |
| 2024 | +88.9% | -12.7% |
| 2025 | +24.1% | +5.7% |
| 2026 | +11.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DTM and VXZ good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DTM and VXZ?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with 0.10 over the last year and -0.29 over 5 years.
Is VXZ a good diversifier for DTM?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 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/dtm-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dtm-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DTM correlations · VXZ correlations
