FBIN vs VXZ: Correlation
Measured on weekly returns over the past three years, Fortune Brands Innovations, Inc. (FBIN) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.45, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBIN and VXZ?
Across a 3-year window, the weekly returns of FBIN and VXZ correlate at -0.45, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.52 lands near the 3-year figure. Stretching to 5 years gives -0.46, with an annualized covariance of -446.7 %².
VXZ is close to the least connected end of FBIN's tracked universe, ranking #20 of 20. On 12-month performance VXZ holds a 6.0-point edge, -22.1% against -16.1%. Note the risk asymmetry: FBIN runs 1.5 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.
FBIN vs VXZ: side by side
| FBIN (Fortune Brands Innovations, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -22.1% | -16.1% |
| 5-year return | -42.9% | -53.1% |
| Volatility (ann.) | 38.8% | 25.6% |
| Beta vs S&P 500 | 1.29 | -1.31 |
| Max drawdown (3Y) | -61.9% | -36.4% |
| Market cap | $5.4B | – |
| P/E (trailing) | 37.4 | – |
| Dividend yield | 2.20% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBIN | VXZ |
|---|---|---|
| 2022 | -36.5% | +0.5% |
| 2023 | +35.2% | -44.0% |
| 2024 | -9.1% | -12.7% |
| 2025 | -25.4% | +5.7% |
| 2026 | -7.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBIN and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
FAQ
What is the correlation between FBIN and VXZ?
As of 2026-08-27, the correlation of weekly returns between FBIN and VXZ is -0.45 over 3 years, -0.52 over 1 year and -0.46 over 5 years.
Is VXZ a good diversifier for FBIN?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
What does a correlation of -0.45 mean?
A reading of -0.45 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/fbin-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fbin-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FBIN correlations · VXZ correlations
