FUL vs VXZ: Correlation
How closely do H. B. Fuller Company (FUL) 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 -0.39, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FUL and VXZ?
On 3 years of weekly data the FUL/VXZ correlation comes out at -0.39, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.25 versus -0.39 over 3 years. The 5-year figure is -0.44, and annualized covariance runs at -310.1 %².
VXZ is close to the least connected end of FUL's tracked universe, ranking #16 of 16. The trailing year gives FUL the advantage: -6.1% versus -16.1%, a 10.0-point spread.
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.
FUL vs VXZ: side by side
| FUL (H. B. Fuller Company) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -6.1% | -16.1% |
| 5-year return | -10.4% | -53.1% |
| Volatility (ann.) | 31.0% | 25.6% |
| Beta vs S&P 500 | 0.93 | -1.31 |
| Max drawdown (3Y) | -43.5% | -36.4% |
| Market cap | $3.1B | – |
| P/E (trailing) | 17.2 | – |
| Dividend yield | 1.64% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FUL | VXZ |
|---|---|---|
| 2022 | -10.6% | +0.5% |
| 2023 | +15.0% | -44.0% |
| 2024 | -16.2% | -12.7% |
| 2025 | -10.5% | +5.7% |
| 2026 | -3.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FUL and VXZ good diversifiers for each other?
Yes. With a correlation of -0.39, FUL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FUL and VXZ?
Using weekly returns as of 2026-08-27: -0.39 over 3 years, with -0.25 over the last year and -0.44 over 5 years.
Is VXZ a good diversifier for FUL?
Yes. With a correlation of -0.39, FUL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.39 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/ful-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ful-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FUL correlations · VXZ correlations
