EWBC vs VXZ: Correlation
How closely do East West Bancorp, Inc. (EWBC) 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 -0.56, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EWBC and VXZ?
On 3 years of weekly data the EWBC/VXZ correlation comes out at -0.56, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.40) than the 3-year average (-0.56). The 5-year figure is -0.56, and annualized covariance runs at -430.1 %².
Out of 13 assets tracked against EWBC, VXZ lands near the bottom at #13. Their recent paths diverged sharply: over the last 12 months EWBC outperformed by 41.1 percentage points (+25.0% for EWBC 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.
EWBC vs VXZ: side by side
| EWBC (East West Bancorp, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +25.0% | -16.1% |
| 5-year return | +103.5% | -53.1% |
| Volatility (ann.) | 30.2% | 25.6% |
| Beta vs S&P 500 | 1.03 | -1.31 |
| Max drawdown (3Y) | -35.8% | -36.4% |
| Market cap | $17.8B | – |
| P/E (trailing) | 12.5 | – |
| Dividend yield | 2.15% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EWBC | VXZ |
|---|---|---|
| 2022 | -14.4% | +0.5% |
| 2023 | +12.8% | -44.0% |
| 2024 | +36.8% | -12.7% |
| 2025 | +20.3% | +5.7% |
| 2026 | +17.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EWBC and VXZ good diversifiers for each other?
Yes: at -0.56, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EWBC and VXZ?
As of 2026-08-27, the correlation of weekly returns between EWBC and VXZ is -0.56 over 3 years, -0.40 over 1 year and -0.56 over 5 years.
Is VXZ a good diversifier for EWBC?
Yes: at -0.56, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.56 mean?
A reading of -0.56 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/ewbc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ewbc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EWBC correlations · VXZ correlations
