GCBC vs VXZ: Correlation
Measured on weekly returns over the past three years, Greene County Bancorp, Inc. (GCBC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GCBC and VXZ?
Over the past 3 years, GCBC and VXZ moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.21 versus -0.32 over 3 years. Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -331.2 %².
Among the 10 assets we track against GCBC, VXZ sits near the bottom by co-movement, at rank #10. The last year tells two different stories: GCBC led by 63.2 percentage points, +47.1% for GCBC against -16.1% for VXZ. Risk is not evenly split, since GCBC carries 1.6 times the volatility of the other side.
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.
GCBC vs VXZ: side by side
| GCBC (Greene County Bancorp, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +47.1% | -16.1% |
| 5-year return | +139.6% | -53.1% |
| Volatility (ann.) | 40.5% | 25.6% |
| Beta vs S&P 500 | 0.75 | -1.31 |
| Max drawdown (3Y) | -42.9% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | 14.4 | – |
| Dividend yield | 1.15% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GCBC | VXZ |
|---|---|---|
| 2022 | +57.9% | +0.5% |
| 2023 | -0.6% | -44.0% |
| 2024 | -0.6% | -12.7% |
| 2025 | -18.5% | +5.7% |
| 2026 | +57.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GCBC and VXZ good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GCBC and VXZ?
The GCBC/VXZ correlation stands at -0.32 on a 3-year window (1 year: -0.21, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for GCBC?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 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/gcbc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gcbc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GCBC correlations · VXZ correlations
