EG vs VXZ: Correlation
How closely do Everest Group (EG) 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 -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EG and VXZ?
Across a 3-year window, the weekly returns of EG and VXZ correlate at -0.28, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.29 lands near the 3-year figure. Stretching to 5 years gives -0.34, with an annualized covariance of -159.1 %².
Among the 30 assets we track against EG, VXZ sits near the bottom by co-movement, at rank #30. The last year tells two different stories: EG led by 27.4 percentage points, +11.3% for EG 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.
EG vs VXZ: side by side
| EG (Everest Group) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.3% | -16.1% |
| 5-year return | +57.2% | -53.1% |
| Volatility (ann.) | 22.2% | 25.6% |
| Beta vs S&P 500 | 0.28 | -1.31 |
| Max drawdown (3Y) | -23.8% | -36.4% |
| Market cap | $14.5B | – |
| P/E (trailing) | 8.0 | – |
| Dividend yield | 2.11% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | EG | VXZ |
|---|---|---|
| 2022 | +23.7% | +0.5% |
| 2023 | +8.7% | -44.0% |
| 2024 | +4.6% | -12.7% |
| 2025 | -5.3% | +5.7% |
| 2026 | +12.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EG and VXZ good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EG and VXZ?
As of 2026-08-27, the correlation of weekly returns between EG and VXZ is -0.28 over 3 years, -0.29 over 1 year and -0.34 over 5 years.
Is VXZ a good diversifier for EG?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EG correlations · VXZ correlations
