FSI vs VXZ: Correlation
Measured on weekly returns over the past three years, Flexible Solutions International Inc. (FSI) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSI and VXZ?
On 3 years of weekly data the FSI/VXZ correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.38) than the 3-year average (-0.27). The 5-year figure is -0.17, and annualized covariance runs at -504.9 %².
Among the 10 assets we track against FSI, VXZ sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with VXZ ahead by 22.3 points (-38.4% versus -16.1%). Note the risk asymmetry: FSI runs 2.9 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.
FSI vs VXZ: side by side
| FSI (Flexible Solutions International Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -38.4% | -16.1% |
| 5-year return | +71.9% | -53.1% |
| Volatility (ann.) | 73.1% | 25.6% |
| Beta vs S&P 500 | 1.39 | -1.31 |
| Max drawdown (3Y) | -56.4% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FSI | VXZ |
|---|---|---|
| 2022 | -20.3% | +0.5% |
| 2023 | -37.3% | -44.0% |
| 2024 | +89.0% | -12.7% |
| 2025 | +90.6% | +5.7% |
| 2026 | -11.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSI and VXZ good diversifiers for each other?
Yes. With a correlation of -0.27, FSI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FSI and VXZ?
As of 2026-08-27, the correlation of weekly returns between FSI and VXZ is -0.27 over 3 years, -0.38 over 1 year and -0.17 over 5 years.
Is VXZ a good diversifier for FSI?
Yes. With a correlation of -0.27, FSI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 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/fsi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fsi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FSI correlations · VXZ correlations
