EEFT vs VXZ: Correlation
How closely do Euronet Worldwide, Inc. (EEFT) 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 -0.39, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EEFT and VXZ?
Across a 3-year window, the weekly returns of EEFT and VXZ correlate at -0.39, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.30 lands near the 3-year figure. Stretching to 5 years gives -0.42, with an annualized covariance of -298.1 %².
Out of 14 assets tracked against EEFT, VXZ lands near the bottom at #14. On 12-month performance VXZ holds a 10.9-point edge, -27.0% against -16.1%.
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.
EEFT vs VXZ: side by side
| EEFT (Euronet Worldwide, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -27.0% | -16.1% |
| 5-year return | -48.7% | -53.1% |
| Volatility (ann.) | 30.1% | 25.6% |
| Beta vs S&P 500 | 0.89 | -1.31 |
| Max drawdown (3Y) | -45.3% | -36.4% |
| Market cap | $2.6B | – |
| P/E (trailing) | 11.2 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EEFT | VXZ |
|---|---|---|
| 2022 | -20.8% | +0.5% |
| 2023 | +7.5% | -44.0% |
| 2024 | +1.3% | -12.7% |
| 2025 | -26.0% | +5.7% |
| 2026 | -10.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EEFT and VXZ good diversifiers for each other?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EEFT and VXZ?
Using weekly returns as of 2026-08-27: -0.39 over 3 years, with -0.30 over the last year and -0.42 over 5 years.
Is VXZ a good diversifier for EEFT?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.39 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/eeft-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eeft-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EEFT correlations · VXZ correlations
