FELE vs VXZ: Correlation
How closely do Franklin Electric Co., Inc. (FELE) 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 -0.49, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FELE and VXZ?
Across a 3-year window, the weekly returns of FELE and VXZ correlate at -0.49, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.36 versus -0.49 over 3 years. Stretching to 5 years gives -0.52, with an annualized covariance of -282.2 %².
Among the 25 assets we track against FELE, VXZ sits near the bottom by co-movement, at rank #25. The last year tells two different stories: FELE led by 19.9 percentage points, +3.8% for FELE 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.
FELE vs VXZ: side by side
| FELE (Franklin Electric Co., Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +3.8% | -16.1% |
| 5-year return | +25.2% | -53.1% |
| Volatility (ann.) | 22.7% | 25.6% |
| Beta vs S&P 500 | 0.79 | -1.31 |
| Max drawdown (3Y) | -23.5% | -36.4% |
| Market cap | $4.5B | – |
| P/E (trailing) | 29.4 | – |
| Dividend yield | 1.06% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FELE | VXZ |
|---|---|---|
| 2022 | -14.9% | +0.5% |
| 2023 | +22.4% | -44.0% |
| 2024 | +1.8% | -12.7% |
| 2025 | -0.9% | +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 FELE and VXZ good diversifiers for each other?
Yes: at -0.49, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FELE and VXZ?
Using weekly returns as of 2026-08-27: -0.49 over 3 years, with -0.36 over the last year and -0.52 over 5 years.
Is VXZ a good diversifier for FELE?
Yes: at -0.49, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.49 mean?
A reading of -0.49 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/fele-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fele-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FELE correlations · VXZ correlations
