FORR vs VXZ: Correlation
How closely do Forrester Research, Inc. (FORR) 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 -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FORR and VXZ?
Over the past 3 years, FORR and VXZ moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.26 over 3. Over 5 years the correlation is -0.30, and the annualized covariance of weekly returns is -330.2 %².
Out of 13 assets tracked against FORR, VXZ lands near the bottom at #13. The last year tells two different stories: FORR led by 41.8 percentage points, +25.7% for FORR against -16.1% for VXZ. Note the risk asymmetry: FORR runs 2.0 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.
FORR vs VXZ: side by side
| FORR (Forrester Research, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +25.7% | -16.1% |
| 5-year return | -74.7% | -53.1% |
| Volatility (ann.) | 50.1% | 25.6% |
| Beta vs S&P 500 | 0.82 | -1.31 |
| Max drawdown (3Y) | -83.9% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FORR | VXZ |
|---|---|---|
| 2022 | -39.1% | +0.5% |
| 2023 | -25.0% | -44.0% |
| 2024 | -41.6% | -12.7% |
| 2025 | -48.2% | +5.7% |
| 2026 | +50.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FORR and VXZ good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FORR and VXZ?
The FORR/VXZ correlation stands at -0.26 on a 3-year window (1 year: -0.27, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for FORR?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
A reading of -0.26 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/forr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/forr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FORR correlations · VXZ correlations
