EVTL vs VXZ: Correlation
How closely do Vertical Aerospace Ltd. (EVTL) 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 EVTL and VXZ?
Across a 3-year window, the weekly returns of EVTL and VXZ correlate at -0.24, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.40) than the 3-year average (-0.24). Stretching to 5 years gives -0.15, with an annualized covariance of -831.4 %².
Out of 13 assets tracked against EVTL, VXZ lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with VXZ ahead by 69.0 points (-85.1% versus -16.1%). Risk is not evenly split, since EVTL carries 5.3 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.
EVTL vs VXZ: side by side
| EVTL (Vertical Aerospace Ltd.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -85.1% | -16.1% |
| 5-year return | -99.2% | -53.1% |
| Volatility (ann.) | 135.6% | 25.6% |
| Beta vs S&P 500 | 3.07 | -1.31 |
| Max drawdown (3Y) | -95.9% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVTL | VXZ |
|---|---|---|
| 2022 | -49.6% | +0.5% |
| 2023 | -79.7% | -44.0% |
| 2024 | +82.8% | -12.7% |
| 2025 | -57.6% | +5.7% |
| 2026 | -86.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVTL and VXZ good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EVTL and VXZ?
The EVTL/VXZ correlation stands at -0.24 on a 3-year window (1 year: -0.40, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for EVTL?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
A reading of -0.24 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/evtl-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evtl-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EVTL correlations · VXZ correlations
