FTK vs VXZ: Correlation
Flotek Industries, Inc. (FTK) 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 -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTK and VXZ?
Over the past 3 years, FTK and VXZ moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.03 versus -0.28 over 3 years. Over 5 years the correlation is -0.22, and the annualized covariance of weekly returns is -613.3 %².
Among the 12 assets we track against FTK, VXZ sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months FTK outperformed by 116.3 percentage points (+100.2% for FTK against -16.1% for VXZ). Note the risk asymmetry: FTK runs 3.3 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.
FTK vs VXZ: side by side
| FTK (Flotek Industries, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +100.2% | -16.1% |
| 5-year return | +196.8% | -53.1% |
| Volatility (ann.) | 84.8% | 25.6% |
| Beta vs S&P 500 | 1.61 | -1.31 |
| Max drawdown (3Y) | -49.6% | -36.4% |
| Market cap | $0.9B | – |
| P/E (trailing) | 24.2 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FTK | VXZ |
|---|---|---|
| 2022 | -0.9% | +0.5% |
| 2023 | -41.7% | -44.0% |
| 2024 | +143.1% | -12.7% |
| 2025 | +80.8% | +5.7% |
| 2026 | +41.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTK and VXZ good diversifiers for each other?
Yes. With a correlation of -0.28, FTK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FTK and VXZ?
The FTK/VXZ correlation stands at -0.28 on a 3-year window (1 year: 0.03, 5 years: -0.22), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for FTK?
Yes. With a correlation of -0.28, FTK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
A reading of -0.28 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/ftk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ftk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FTK correlations · VXZ correlations
