GD vs VXZ: Correlation
Measured on weekly returns over the past three years, General Dynamics (GD) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GD and VXZ?
On 3 years of weekly data the GD/VXZ correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.25 over 3. The 5-year figure is -0.29, and annualized covariance runs at -132.4 %².
Out of 30 assets tracked against GD, VXZ lands near the bottom at #29. The last year tells two different stories: GD led by 34.9 percentage points, +18.8% for GD 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.
GD vs VXZ: side by side
| GD (General Dynamics) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +18.8% | -16.1% |
| 5-year return | +111.9% | -53.1% |
| Volatility (ann.) | 21.1% | 25.6% |
| Beta vs S&P 500 | 0.52 | -1.31 |
| Max drawdown (3Y) | -22.5% | -36.4% |
| Market cap | $102.8B | – |
| P/E (trailing) | 23.3 | – |
| Dividend yield | 1.62% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | GD | VXZ |
|---|---|---|
| 2022 | +21.7% | +0.5% |
| 2023 | +7.1% | -44.0% |
| 2024 | +3.5% | -12.7% |
| 2025 | +30.4% | +5.7% |
| 2026 | +14.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GD and VXZ good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GD and VXZ?
As of 2026-08-27, the correlation of weekly returns between GD and VXZ is -0.25 over 3 years, -0.22 over 1 year and -0.29 over 5 years.
Is VXZ a good diversifier for GD?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 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/gd-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gd-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GD correlations · VXZ correlations
