FISV vs VXZ: Correlation
Measured on weekly returns over the past three years, Fiserv (FISV) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FISV and VXZ?
On 3 years of weekly data the FISV/VXZ correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.36) runs below the 3-year figure (-0.25). The 5-year figure is -0.30, and annualized covariance runs at -254.4 %².
By 3-year correlation, VXZ places #30 of the 39 assets tracked against FISV. Correlation aside, the last 12 months split them widely, with VXZ ahead by 45.8 points (-61.9% versus -16.1%). Note the risk asymmetry: FISV 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.
FISV vs VXZ: side by side
| FISV (Fiserv) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -61.9% | -16.1% |
| 5-year return | -55.0% | -53.1% |
| Volatility (ann.) | 39.2% | 25.6% |
| Beta vs S&P 500 | 0.58 | -1.31 |
| Max drawdown (3Y) | -80.2% | -36.4% |
| Market cap | $28.0B | – |
| P/E (trailing) | 10.1 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | FISV | VXZ |
|---|---|---|
| 2022 | -2.6% | +0.5% |
| 2023 | +31.4% | -44.0% |
| 2024 | +54.6% | -12.7% |
| 2025 | -67.3% | +5.7% |
| 2026 | -21.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FISV and VXZ good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FISV and VXZ?
The FISV/VXZ correlation stands at -0.25 on a 3-year window (1 year: -0.36, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for FISV?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/fisv-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fisv-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FISV correlations · VXZ correlations
