FIS vs VXZ: Correlation
How closely do Fidelity National Information Services (FIS) 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 -0.33, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIS and VXZ?
Across a 3-year window, the weekly returns of FIS and VXZ correlate at -0.33, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.23) sits close to the 3-year figure. Stretching to 5 years gives -0.32, with an annualized covariance of -226.3 %².
Among the 33 assets we track against FIS, VXZ sits near the bottom by co-movement, at rank #31. The last year tells two different stories: VXZ led by 23.9 percentage points, -40.0% for FIS 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.
FIS vs VXZ: side by side
| FIS (Fidelity National Information Services) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -40.0% | -16.1% |
| 5-year return | -63.9% | -53.1% |
| Volatility (ann.) | 27.2% | 25.6% |
| Beta vs S&P 500 | 0.57 | -1.31 |
| Max drawdown (3Y) | -56.5% | -36.4% |
| Market cap | $20.9B | – |
| P/E (trailing) | 6.2 | – |
| Dividend yield | 4.13% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | FIS | VXZ |
|---|---|---|
| 2022 | -36.5% | +0.5% |
| 2023 | -8.2% | -44.0% |
| 2024 | +37.0% | -12.7% |
| 2025 | -15.8% | +5.7% |
| 2026 | -37.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIS and VXZ good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FIS and VXZ?
The FIS/VXZ correlation stands at -0.33 on a 3-year window (1 year: -0.23, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for FIS?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.33 mean?
On the −1 to +1 scale, -0.33 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fis-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fis-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FIS correlations · VXZ correlations
