EGHT vs VXZ: Correlation
8x8 Inc (EGHT) 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 -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EGHT and VXZ?
On 3 years of weekly data the EGHT/VXZ correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.19) runs above the 3-year figure (-0.34). The 5-year figure is -0.35, and annualized covariance runs at -689.0 %².
Among the 15 assets we track against EGHT, VXZ sits near the bottom by co-movement, at rank #15. The last year tells two different stories: EGHT led by 21.3 percentage points, +5.2% for EGHT against -16.1% for VXZ. One caveat on sizing: EGHT is 3.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
EGHT vs VXZ: side by side
| EGHT (8x8 Inc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +5.2% | -16.1% |
| 5-year return | -91.6% | -53.1% |
| Volatility (ann.) | 80.2% | 25.6% |
| Beta vs S&P 500 | 2.07 | -1.31 |
| Max drawdown (3Y) | -59.5% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 67.0 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EGHT | VXZ |
|---|---|---|
| 2022 | -74.2% | +0.5% |
| 2023 | -12.5% | -44.0% |
| 2024 | -29.4% | -12.7% |
| 2025 | -26.2% | +5.7% |
| 2026 | +2.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EGHT and VXZ good diversifiers for each other?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EGHT and VXZ?
The EGHT/VXZ correlation stands at -0.34 on a 3-year window (1 year: -0.19, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for EGHT?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.34 mean?
A reading of -0.34 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/eght-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eght-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EGHT correlations · VXZ correlations
