FSTR vs VXZ: Correlation
L.B. Foster Company (FSTR) 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 -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSTR and VXZ?
On 3 years of weekly data the FSTR/VXZ correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.16 versus -0.34 over 3 years. The 5-year figure is -0.26, and annualized covariance runs at -406.5 %².
Among the 16 assets we track against FSTR, VXZ sits near the bottom by co-movement, at rank #16. The last year tells two different stories: FSTR led by 58.9 percentage points, +42.8% for FSTR against -16.1% for VXZ. One caveat on sizing: FSTR is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FSTR vs VXZ: side by side
| FSTR (L.B. Foster Company) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +42.8% | -16.1% |
| 5-year return | +119.1% | -53.1% |
| Volatility (ann.) | 46.4% | 25.6% |
| Beta vs S&P 500 | 1.23 | -1.31 |
| Max drawdown (3Y) | -45.9% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | 35.4 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FSTR | VXZ |
|---|---|---|
| 2022 | -29.6% | +0.5% |
| 2023 | +127.2% | -44.0% |
| 2024 | +22.3% | -12.7% |
| 2025 | +0.2% | +5.7% |
| 2026 | +40.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSTR and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between FSTR and VXZ?
As of 2026-08-27, the correlation of weekly returns between FSTR and VXZ is -0.34 over 3 years, -0.16 over 1 year and -0.26 over 5 years.
Is VXZ a good diversifier for FSTR?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fstr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fstr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FSTR correlations · VXZ correlations
