EXEL vs VXZ: Correlation
Measured on weekly returns over the past three years, Exelixis, Inc. (EXEL) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXEL and VXZ?
Across a 3-year window, the weekly returns of EXEL and VXZ correlate at -0.29, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. Stretching to 5 years gives -0.26, with an annualized covariance of -256.1 %².
Out of 11 assets tracked against EXEL, VXZ lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with EXEL ahead by 59.6 points (+43.5% 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.
EXEL vs VXZ: side by side
| EXEL (Exelixis, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +43.5% | -16.1% |
| 5-year return | +186.9% | -53.1% |
| Volatility (ann.) | 34.8% | 25.6% |
| Beta vs S&P 500 | 0.78 | -1.31 |
| Max drawdown (3Y) | -25.3% | -36.4% |
| Market cap | $13.7B | – |
| P/E (trailing) | 17.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EXEL | VXZ |
|---|---|---|
| 2022 | -12.3% | +0.5% |
| 2023 | +49.6% | -44.0% |
| 2024 | +38.8% | -12.7% |
| 2025 | +31.6% | +5.7% |
| 2026 | +26.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXEL and VXZ good diversifiers for each other?
Yes. With a correlation of -0.29, EXEL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EXEL and VXZ?
The EXEL/VXZ correlation stands at -0.29 on a 3-year window (1 year: -0.31, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for EXEL?
Yes. With a correlation of -0.29, EXEL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 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/exel-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/exel-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EXEL correlations · VXZ correlations
