ENS vs VXZ: Correlation
Measured on weekly returns over the past three years, EnerSys (ENS) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.40, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENS and VXZ?
On 3 years of weekly data the ENS/VXZ correlation comes out at -0.40, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.13) runs above the 3-year figure (-0.40). The 5-year figure is -0.44, and annualized covariance runs at -304.9 %².
Out of 11 assets tracked against ENS, VXZ lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months ENS outperformed by 104.0 percentage points (+87.9% for ENS 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.
ENS vs VXZ: side by side
| ENS (EnerSys) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +87.9% | -16.1% |
| 5-year return | +131.9% | -53.1% |
| Volatility (ann.) | 30.1% | 25.6% |
| Beta vs S&P 500 | 1.09 | -1.31 |
| Max drawdown (3Y) | -28.2% | -36.4% |
| Market cap | $6.9B | – |
| P/E (trailing) | 20.7 | – |
| Dividend yield | 0.54% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENS | VXZ |
|---|---|---|
| 2022 | -5.6% | +0.5% |
| 2023 | +37.9% | -44.0% |
| 2024 | -7.6% | -12.7% |
| 2025 | +60.3% | +5.7% |
| 2026 | +30.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENS and VXZ good diversifiers for each other?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ENS and VXZ?
As of 2026-08-27, the correlation of weekly returns between ENS and VXZ is -0.40 over 3 years, -0.13 over 1 year and -0.44 over 5 years.
Is VXZ a good diversifier for ENS?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.40 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/ens-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ens-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ENS correlations · VXZ correlations
