EIX vs VXZ: Correlation
How closely do Edison International (EIX) 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 EIX and VXZ?
Over the past 3 years, EIX and VXZ moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.12) runs above the 3-year figure (-0.24). Over 5 years the correlation is -0.28, and the annualized covariance of weekly returns is -159.7 %².
Among the 30 assets we track against EIX, VXZ ranks #23 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months EIX outperformed by 56.5 percentage points (+40.4% for EIX 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.
EIX vs VXZ: side by side
| EIX (Edison International) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +40.4% | -16.1% |
| 5-year return | +62.2% | -53.1% |
| Volatility (ann.) | 26.0% | 25.6% |
| Beta vs S&P 500 | 0.24 | -1.31 |
| Max drawdown (3Y) | -43.9% | -36.4% |
| Market cap | $28.4B | – |
| P/E (trailing) | 7.7 | – |
| Dividend yield | 4.64% | – |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | EIX | VXZ |
|---|---|---|
| 2022 | -2.6% | +0.5% |
| 2023 | +17.4% | -44.0% |
| 2024 | +15.2% | -12.7% |
| 2025 | -20.4% | +5.7% |
| 2026 | +27.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EIX and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between EIX and VXZ?
The EIX/VXZ correlation stands at -0.24 on a 3-year window (1 year: -0.12, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for EIX?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/eix-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eix-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EIX correlations · VXZ correlations
