FPH vs VXZ: Correlation
Five Point Holdings, LLC Class A (FPH) 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 FPH and VXZ?
Across a 3-year window, the weekly returns of FPH and VXZ correlate at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.35 versus -0.24 over 3 years. Stretching to 5 years gives -0.29, with an annualized covariance of -269.5 %².
Among the 12 assets we track against FPH, VXZ sits near the bottom by co-movement, at rank #11. On 12-month performance FPH holds a 6.8-point edge, -9.3% against -16.1%. Risk is not evenly split, since FPH carries 1.7 times the volatility of the other side.
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.
FPH vs VXZ: side by side
| FPH (Five Point Holdings, LLC Class A) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -9.3% | -16.1% |
| 5-year return | -37.3% | -53.1% |
| Volatility (ann.) | 44.0% | 25.6% |
| Beta vs S&P 500 | 0.83 | -1.31 |
| Max drawdown (3Y) | -33.4% | -36.4% |
| Market cap | $0.8B | – |
| P/E (trailing) | 7.1 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FPH | VXZ |
|---|---|---|
| 2022 | -64.4% | +0.5% |
| 2023 | +31.8% | -44.0% |
| 2024 | +23.1% | -12.7% |
| 2025 | +47.9% | +5.7% |
| 2026 | -8.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FPH and VXZ good diversifiers for each other?
Yes. With a correlation of -0.24, FPH and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FPH and VXZ?
The FPH/VXZ correlation stands at -0.24 on a 3-year window (1 year: -0.35, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for FPH?
Yes. With a correlation of -0.24, FPH 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/fph-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fph-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FPH correlations · VXZ correlations
