EL vs VXZ: Correlation
Measured on weekly returns over the past three years, Estée Lauder Companies (The) (EL) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EL and VXZ?
On 3 years of weekly data the EL/VXZ correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.44) runs below the 3-year figure (-0.26). The 5-year figure is -0.34, and annualized covariance runs at -313.1 %².
Among the 35 assets we track against EL, VXZ sits near the bottom by co-movement, at rank #32. Correlation aside, the last 12 months split them widely, with EL ahead by 32.5 points (+16.4% versus -16.1%). Risk is not evenly split, since EL carries 1.8 times the volatility of the other side.
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.
EL vs VXZ: side by side
| EL (Estée Lauder Companies (The)) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +16.4% | -16.1% |
| 5-year return | -66.7% | -53.1% |
| Volatility (ann.) | 47.0% | 25.6% |
| Beta vs S&P 500 | 1.28 | -1.31 |
| Max drawdown (3Y) | -68.4% | -36.4% |
| Market cap | $38.4B | – |
| P/E (trailing) | 208.3 | – |
| Dividend yield | 1.33% | – |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | EL | VXZ |
|---|---|---|
| 2022 | -32.3% | +0.5% |
| 2023 | -40.1% | -44.0% |
| 2024 | -47.6% | -12.7% |
| 2025 | +42.1% | +5.7% |
| 2026 | +2.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EL and VXZ good diversifiers for each other?
Yes. With a correlation of -0.26, EL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EL and VXZ?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.44 over the last year and -0.34 over 5 years.
Is VXZ a good diversifier for EL?
Yes. With a correlation of -0.26, EL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
A reading of -0.26 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/el-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/el-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EL correlations · VXZ correlations
