FTI vs VXZ: Correlation
Measured on weekly returns over the past three years, TechnipFMC plc (FTI) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.36, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTI and VXZ?
Over the past 3 years, FTI and VXZ moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.02 versus -0.36 over 3 years. Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -335.9 %².
Out of 14 assets tracked against FTI, VXZ lands near the bottom at #13. Correlation aside, the last 12 months split them widely, with FTI ahead by 125.5 points (+109.4% versus -16.1%).
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.
FTI vs VXZ: side by side
| FTI (TechnipFMC plc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +109.4% | -16.1% |
| 5-year return | +1078.9% | -53.1% |
| Volatility (ann.) | 36.4% | 25.6% |
| Beta vs S&P 500 | 0.70 | -1.31 |
| Max drawdown (3Y) | -28.9% | -36.4% |
| Market cap | $29.9B | – |
| P/E (trailing) | 26.5 | – |
| Dividend yield | 0.26% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FTI | VXZ |
|---|---|---|
| 2022 | +105.9% | +0.5% |
| 2023 | +66.1% | -44.0% |
| 2024 | +44.8% | -12.7% |
| 2025 | +54.9% | +5.7% |
| 2026 | +71.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTI and VXZ good diversifiers for each other?
Yes. With a correlation of -0.36, FTI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FTI and VXZ?
Using weekly returns as of 2026-08-27: -0.36 over 3 years, with 0.02 over the last year and -0.36 over 5 years.
Is VXZ a good diversifier for FTI?
Yes. With a correlation of -0.36, FTI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.36 mean?
A reading of -0.36 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/fti-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fti-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FTI correlations · VXZ correlations
