GCT vs VXZ: Correlation
GigaCloud Technology Inc - Class A (GCT) 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 -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GCT and VXZ?
Across a 3-year window, the weekly returns of GCT and VXZ correlate at -0.30, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Stretching to 5 years gives -0.28, with an annualized covariance of -656.4 %².
Out of 10 assets tracked against GCT, VXZ lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with GCT ahead by 111.3 points (+95.2% versus -16.1%). One caveat on sizing: GCT is 3.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GCT vs VXZ: side by side
| GCT (GigaCloud Technology Inc - Class A) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +95.2% | -16.1% |
| 5-year return | n/a | -53.1% |
| Volatility (ann.) | 85.6% | 25.6% |
| Beta vs S&P 500 | 1.87 | -1.31 |
| Max drawdown (3Y) | -73.2% | -36.4% |
| Market cap | $1.8B | – |
| P/E (trailing) | 12.4 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GCT | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | +221.5% | -44.0% |
| 2024 | +1.2% | -12.7% |
| 2025 | +112.1% | +5.7% |
| 2026 | +31.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GCT and VXZ good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GCT and VXZ?
As of 2026-08-27, the correlation of weekly returns between GCT and VXZ is -0.30 over 3 years, -0.23 over 1 year and -0.28 over 5 years.
Is VXZ a good diversifier for GCT?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
A reading of -0.30 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/gct-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gct-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GCT correlations · VXZ correlations
