FAST vs VXZ: Correlation
How closely do Fastenal (FAST) 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 -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FAST and VXZ?
Over the past 3 years, FAST and VXZ moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.31) sits close to the 3-year figure. Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -156.4 %².
Among the 33 assets we track against FAST, VXZ sits near the bottom by co-movement, at rank #32. Their recent paths diverged sharply: over the last 12 months FAST outperformed by 20.2 percentage points (+4.1% for FAST 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.
FAST vs VXZ: side by side
| FAST (Fastenal) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +4.1% | -16.1% |
| 5-year return | +105.5% | -53.1% |
| Volatility (ann.) | 24.0% | 25.6% |
| Beta vs S&P 500 | 0.63 | -1.31 |
| Max drawdown (3Y) | -21.9% | -36.4% |
| Market cap | $58.7B | – |
| P/E (trailing) | 43.7 | – |
| Dividend yield | 1.80% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | FAST | VXZ |
|---|---|---|
| 2022 | -24.3% | +0.5% |
| 2023 | +41.3% | -44.0% |
| 2024 | +13.5% | -12.7% |
| 2025 | +14.0% | +5.7% |
| 2026 | +29.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FAST and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between FAST and VXZ?
The FAST/VXZ correlation stands at -0.25 on a 3-year window (1 year: -0.31, 5 years: -0.37), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for FAST?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 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/fast-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fast-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FAST correlations · VXZ correlations
