FOR vs VXZ: Correlation
How closely do Forestar Group Inc (FOR) 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 -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOR and VXZ?
Across a 3-year window, the weekly returns of FOR and VXZ correlate at -0.37, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.33 over 1 year against -0.37 over 3. Stretching to 5 years gives -0.34, with an annualized covariance of -338.1 %².
VXZ is close to the least connected end of FOR's tracked universe, ranking #11 of 11. The last year tells two different stories: FOR led by 19.4 percentage points, +3.3% for FOR 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.
FOR vs VXZ: side by side
| FOR (Forestar Group Inc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +3.3% | -16.1% |
| 5-year return | +34.9% | -53.1% |
| Volatility (ann.) | 35.8% | 25.6% |
| Beta vs S&P 500 | 0.84 | -1.31 |
| Max drawdown (3Y) | -54.7% | -36.4% |
| Market cap | $1.5B | – |
| P/E (trailing) | 8.6 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FOR | VXZ |
|---|---|---|
| 2022 | -29.1% | +0.5% |
| 2023 | +114.6% | -44.0% |
| 2024 | -21.6% | -12.7% |
| 2025 | -5.0% | +5.7% |
| 2026 | +16.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOR and VXZ good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FOR and VXZ?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with -0.33 over the last year and -0.34 over 5 years.
Is VXZ a good diversifier for FOR?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 mean?
A reading of -0.37 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/for-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/for-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FOR correlations · VXZ correlations
