EAT vs VXZ: Correlation
How closely do Brinker International, Inc. (EAT) 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 -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EAT and VXZ?
Over the past 3 years, EAT and VXZ moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.35 versus -0.24 over 3 years. Over 5 years the correlation is -0.29, and the annualized covariance of weekly returns is -284.3 %².
Out of 10 assets tracked against EAT, VXZ lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with EAT ahead by 65.5 points (+49.4% versus -16.1%). Note the risk asymmetry: EAT runs 1.8 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.
EAT vs VXZ: side by side
| EAT (Brinker International, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +49.4% | -16.1% |
| 5-year return | +347.9% | -53.1% |
| Volatility (ann.) | 47.1% | 25.6% |
| Beta vs S&P 500 | 0.67 | -1.31 |
| Max drawdown (3Y) | -45.9% | -36.4% |
| Market cap | $10.0B | – |
| P/E (trailing) | 21.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EAT | VXZ |
|---|---|---|
| 2022 | -12.8% | +0.5% |
| 2023 | +35.3% | -44.0% |
| 2024 | +206.4% | -12.7% |
| 2025 | +8.5% | +5.7% |
| 2026 | +62.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EAT and VXZ good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EAT and VXZ?
As of 2026-08-27, the correlation of weekly returns between EAT and VXZ is -0.24 over 3 years, -0.35 over 1 year and -0.29 over 5 years.
Is VXZ a good diversifier for EAT?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 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/eat-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eat-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EAT correlations · VXZ correlations
