FTAI vs VXZ: Correlation
How closely do FTAI Aviation Ltd. (FTAI) 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 -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTAI and VXZ?
Across a 3-year window, the weekly returns of FTAI and VXZ correlate at -0.25, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.35) sits close to the 3-year figure. Stretching to 5 years gives -0.34, with an annualized covariance of -373.8 %².
VXZ is close to the least connected end of FTAI's tracked universe, ranking #9 of 10. The last year tells two different stories: FTAI led by 50.2 percentage points, +34.1% for FTAI against -16.1% for VXZ. One caveat on sizing: FTAI is 2.3 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.
FTAI vs VXZ: side by side
| FTAI (FTAI Aviation Ltd.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +34.1% | -16.1% |
| 5-year return | +884.3% | -53.1% |
| Volatility (ann.) | 59.0% | 25.6% |
| Beta vs S&P 500 | 1.11 | -1.31 |
| Max drawdown (3Y) | -52.1% | -36.4% |
| Market cap | $20.5B | – |
| P/E (trailing) | 43.8 | – |
| Dividend yield | 0.84% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FTAI | VXZ |
|---|---|---|
| 2022 | -25.8% | +0.5% |
| 2023 | +181.6% | -44.0% |
| 2024 | +214.7% | -12.7% |
| 2025 | +38.0% | +5.7% |
| 2026 | +1.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTAI and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between FTAI and VXZ?
The FTAI/VXZ correlation stands at -0.25 on a 3-year window (1 year: -0.35, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for FTAI?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 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/ftai-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ftai-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FTAI correlations · VXZ correlations
