GABC vs VXZ: Correlation
German American Bancorp, Inc. (GABC) 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 -0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GABC and VXZ?
Over the past 3 years, GABC and VXZ moved with a correlation of -0.46, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.32 versus -0.46 over 3 years. Over 5 years the correlation is -0.42, and the annualized covariance of weekly returns is -292.4 %².
Out of 15 assets tracked against GABC, VXZ lands near the bottom at #15. Their recent paths diverged sharply: over the last 12 months GABC outperformed by 37.6 percentage points (+21.5% for GABC 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.
GABC vs VXZ: side by side
| GABC (German American Bancorp, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +21.5% | -16.1% |
| 5-year return | +55.3% | -53.1% |
| Volatility (ann.) | 25.1% | 25.6% |
| Beta vs S&P 500 | 0.62 | -1.31 |
| Max drawdown (3Y) | -25.3% | -36.4% |
| Market cap | $1.9B | – |
| P/E (trailing) | 13.0 | – |
| Dividend yield | 2.46% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GABC | VXZ |
|---|---|---|
| 2022 | -2.0% | +0.5% |
| 2023 | -10.2% | -44.0% |
| 2024 | +27.9% | -12.7% |
| 2025 | +0.3% | +5.7% |
| 2026 | +29.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GABC and VXZ good diversifiers for each other?
Yes. With a correlation of -0.46, GABC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GABC and VXZ?
Using weekly returns as of 2026-08-27: -0.46 over 3 years, with -0.32 over the last year and -0.42 over 5 years.
Is VXZ a good diversifier for GABC?
Yes. With a correlation of -0.46, GABC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.46 mean?
A reading of -0.46 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/gabc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gabc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GABC correlations · VXZ correlations
