EPAM vs VXZ: Correlation
Measured on weekly returns over the past three years, EPAM Systems, Inc. (EPAM) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EPAM and VXZ?
On 3 years of weekly data the EPAM/VXZ correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.16 versus -0.31 over 3 years. The 5-year figure is -0.35, and annualized covariance runs at -369.9 %².
Out of 16 assets tracked against EPAM, VXZ lands near the bottom at #16. The last year tells two different stories: VXZ led by 18.9 percentage points, -35.0% for EPAM against -16.1% for VXZ. One caveat on sizing: EPAM is 1.8 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.
EPAM vs VXZ: side by side
| EPAM (EPAM Systems, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -35.0% | -16.1% |
| 5-year return | -82.3% | -53.1% |
| Volatility (ann.) | 47.0% | 25.6% |
| Beta vs S&P 500 | 0.98 | -1.31 |
| Max drawdown (3Y) | -75.8% | -36.4% |
| Market cap | $5.8B | – |
| P/E (trailing) | 14.8 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EPAM | VXZ |
|---|---|---|
| 2022 | -51.0% | +0.5% |
| 2023 | -9.3% | -44.0% |
| 2024 | -21.4% | -12.7% |
| 2025 | -12.4% | +5.7% |
| 2026 | -45.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EPAM and VXZ good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EPAM and VXZ?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.16 over the last year and -0.35 over 5 years.
Is VXZ a good diversifier for EPAM?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 mean?
A reading of -0.31 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/epam-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/epam-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EPAM correlations · VXZ correlations
