EXPE vs VXZ: Correlation
Expedia Group (EXPE) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXPE and VXZ?
Across a 3-year window, the weekly returns of EXPE and VXZ correlate at -0.42, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.20 versus -0.42 over 3 years. Stretching to 5 years gives -0.48, with an annualized covariance of -456.1 %².
Out of 33 assets tracked against EXPE, VXZ lands near the bottom at #33. The last year tells two different stories: EXPE led by 67.6 percentage points, +51.5% for EXPE against -16.1% for VXZ. Note the risk asymmetry: EXPE runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EXPE vs VXZ: side by side
| EXPE (Expedia Group) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +51.5% | -16.1% |
| 5-year return | +123.9% | -53.1% |
| Volatility (ann.) | 42.7% | 25.6% |
| Beta vs S&P 500 | 1.33 | -1.31 |
| Max drawdown (3Y) | -37.4% | -36.4% |
| Market cap | $38.3B | – |
| P/E (trailing) | 21.0 | – |
| Dividend yield | 0.53% | – |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | EXPE | VXZ |
|---|---|---|
| 2022 | -51.5% | +0.5% |
| 2023 | +73.3% | -44.0% |
| 2024 | +22.8% | -12.7% |
| 2025 | +53.3% | +5.7% |
| 2026 | +13.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXPE and VXZ good diversifiers for each other?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EXPE and VXZ?
As of 2026-08-27, the correlation of weekly returns between EXPE and VXZ is -0.42 over 3 years, -0.20 over 1 year and -0.48 over 5 years.
Is VXZ a good diversifier for EXPE?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.42 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/expe-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/expe-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EXPE correlations · VXZ correlations
