GATX vs VXZ: Correlation
How closely do GATX Corporation (GATX) 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 -0.50, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GATX and VXZ?
Over the past 3 years, GATX and VXZ moved with a correlation of -0.50, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.41 over 1 year against -0.50 over 3. Over 5 years the correlation is -0.50, and the annualized covariance of weekly returns is -309.6 %².
Among the 10 assets we track against GATX, VXZ sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with GATX ahead by 25.2 points (+9.1% 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.
GATX vs VXZ: side by side
| GATX (GATX Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +9.1% | -16.1% |
| 5-year return | +112.2% | -53.1% |
| Volatility (ann.) | 24.2% | 25.6% |
| Beta vs S&P 500 | 0.78 | -1.31 |
| Max drawdown (3Y) | -18.1% | -36.4% |
| Market cap | $6.3B | – |
| P/E (trailing) | 17.7 | – |
| Dividend yield | 1.42% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GATX | VXZ |
|---|---|---|
| 2022 | +4.2% | +0.5% |
| 2023 | +15.2% | -44.0% |
| 2024 | +31.1% | -12.7% |
| 2025 | +11.1% | +5.7% |
| 2026 | +6.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GATX and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.50 means the two rarely move for the same reasons.
FAQ
What is the correlation between GATX and VXZ?
The GATX/VXZ correlation stands at -0.50 on a 3-year window (1 year: -0.41, 5 years: -0.50), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for GATX?
By historical standards, yes. A correlation of -0.50 means the two rarely move for the same reasons.
What does a correlation of -0.50 mean?
On the −1 to +1 scale, -0.50 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gatx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gatx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GATX correlations · VXZ correlations
