FFIV vs VXZ: Correlation
F5, Inc. (FFIV) 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 -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FFIV and VXZ?
Across a 3-year window, the weekly returns of FFIV and VXZ correlate at -0.24, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.16 lands near the 3-year figure. Stretching to 5 years gives -0.32, with an annualized covariance of -165.5 %².
Among the 34 assets we track against FFIV, VXZ sits near the bottom by co-movement, at rank #33. Correlation aside, the last 12 months split them widely, with FFIV ahead by 45.2 points (+29.1% 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.
FFIV vs VXZ: side by side
| FFIV (F5, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +29.1% | -16.1% |
| 5-year return | +99.3% | -53.1% |
| Volatility (ann.) | 26.6% | 25.6% |
| Beta vs S&P 500 | 0.77 | -1.31 |
| Max drawdown (3Y) | -34.7% | -36.4% |
| Market cap | $23.2B | – |
| P/E (trailing) | 31.8 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | FFIV | VXZ |
|---|---|---|
| 2022 | -41.4% | +0.5% |
| 2023 | +24.7% | -44.0% |
| 2024 | +40.5% | -12.7% |
| 2025 | +1.5% | +5.7% |
| 2026 | +60.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FFIV and VXZ good diversifiers for each other?
Yes. With a correlation of -0.24, FFIV and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FFIV and VXZ?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.16 over the last year and -0.32 over 5 years.
Is VXZ a good diversifier for FFIV?
Yes. With a correlation of -0.24, FFIV and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 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/ffiv-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ffiv-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FFIV correlations · VXZ correlations
