EQIX vs VXZ: Correlation
How closely do Equinix (EQIX) 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 -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQIX and VXZ?
Over the past 3 years, EQIX and VXZ moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.02) runs above the 3-year figure (-0.30). Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -189.6 %².
Among the 30 assets we track against EQIX, VXZ sits near the bottom by co-movement, at rank #30. Correlation aside, the last 12 months split them widely, with EQIX ahead by 55.2 points (+39.1% versus -16.1%).
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.
EQIX vs VXZ: side by side
| EQIX (Equinix) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +39.1% | -16.1% |
| 5-year return | +41.6% | -53.1% |
| Volatility (ann.) | 24.4% | 25.6% |
| Beta vs S&P 500 | 0.63 | -1.31 |
| Max drawdown (3Y) | -24.6% | -36.4% |
| Market cap | $106.2B | – |
| P/E (trailing) | 69.4 | – |
| Dividend yield | 1.82% | – |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | EQIX | VXZ |
|---|---|---|
| 2022 | -21.1% | +0.5% |
| 2023 | +25.4% | -44.0% |
| 2024 | +19.5% | -12.7% |
| 2025 | -16.9% | +5.7% |
| 2026 | +42.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQIX and VXZ good diversifiers for each other?
Yes. With a correlation of -0.30, EQIX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EQIX and VXZ?
As of 2026-08-27, the correlation of weekly returns between EQIX and VXZ is -0.30 over 3 years, -0.02 over 1 year and -0.36 over 5 years.
Is VXZ a good diversifier for EQIX?
Yes. With a correlation of -0.30, EQIX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
A reading of -0.30 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/eqix-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eqix-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EQIX correlations · VXZ correlations
