DXPE vs VXZ: Correlation
Measured on weekly returns over the past three years, DXP Enterprises, Inc. (DXPE) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DXPE and VXZ?
On 3 years of weekly data the DXPE/VXZ correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.30 over 1 year against -0.37 over 3. The 5-year figure is -0.37, and annualized covariance runs at -466.2 %².
VXZ is close to the least connected end of DXPE's tracked universe, ranking #12 of 12. Their recent paths diverged sharply: over the last 12 months DXPE outperformed by 71.4 percentage points (+55.3% for DXPE against -16.1% for VXZ). Note the risk asymmetry: DXPE runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
DXPE vs VXZ: side by side
| DXPE (DXP Enterprises, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +55.3% | -16.1% |
| 5-year return | +542.5% | -53.1% |
| Volatility (ann.) | 49.8% | 25.6% |
| Beta vs S&P 500 | 1.41 | -1.31 |
| Max drawdown (3Y) | -33.0% | -36.4% |
| Market cap | $3.0B | – |
| P/E (trailing) | 33.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DXPE | VXZ |
|---|---|---|
| 2022 | +7.3% | +0.5% |
| 2023 | +22.3% | -44.0% |
| 2024 | +145.2% | -12.7% |
| 2025 | +32.9% | +5.7% |
| 2026 | +75.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DXPE and VXZ good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DXPE and VXZ?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with -0.30 over the last year and -0.37 over 5 years.
Is VXZ a good diversifier for DXPE?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 mean?
A reading of -0.37 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/dxpe-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dxpe-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DXPE correlations · VXZ correlations
