FUND vs VXZ: Correlation
How closely do Sprott Focus Trust, Inc. - Closed End Fund (FUND) 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 -0.54, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FUND and VXZ?
On 3 years of weekly data the FUND/VXZ correlation comes out at -0.54, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.42 versus -0.54 over 3 years. The 5-year figure is -0.58, and annualized covariance runs at -247.1 %².
Among the 32 assets we track against FUND, VXZ sits near the bottom by co-movement, at rank #31. Their recent paths diverged sharply: over the last 12 months FUND outperformed by 55.2 percentage points (+39.1% for FUND against -16.1% for VXZ).
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.
FUND vs VXZ: side by side
| FUND (Sprott Focus Trust, Inc. - Closed End Fund) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +39.1% | -16.1% |
| 5-year return | +83.0% | -53.1% |
| Volatility (ann.) | 17.9% | 25.6% |
| Beta vs S&P 500 | 0.77 | -1.31 |
| Max drawdown (3Y) | -18.2% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 5.8 | – |
| Dividend yield | 5.36% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FUND | VXZ |
|---|---|---|
| 2022 | -1.2% | +0.5% |
| 2023 | +6.9% | -44.0% |
| 2024 | -1.0% | -12.7% |
| 2025 | +27.5% | +5.7% |
| 2026 | +26.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FUND and VXZ good diversifiers for each other?
Yes. With a correlation of -0.54, FUND and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FUND and VXZ?
Using weekly returns as of 2026-08-27: -0.54 over 3 years, with -0.42 over the last year and -0.58 over 5 years.
Is VXZ a good diversifier for FUND?
Yes. With a correlation of -0.54, FUND and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.54 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/fund-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fund-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FUND correlations · VXZ correlations
