GEHC vs VXZ: Correlation
GE HealthCare (GEHC) 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 -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GEHC and VXZ?
Over the past 3 years, GEHC and VXZ moved with a correlation of -0.42, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.41 over 1 year against -0.42 over 3. Over 5 years the correlation is -0.41, and the annualized covariance of weekly returns is -352.0 %².
Out of 52 assets tracked against GEHC, VXZ lands near the bottom at #51. On 12-month performance GEHC holds a 13.9-point edge, -2.2% against -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.
GEHC vs VXZ: side by side
| GEHC (GE HealthCare) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -2.2% | -16.1% |
| 5-year return | n/a | -53.1% |
| Volatility (ann.) | 32.4% | 25.6% |
| Beta vs S&P 500 | 1.22 | -1.31 |
| Max drawdown (3Y) | -37.4% | -36.4% |
| Market cap | $32.7B | – |
| P/E (trailing) | 16.9 | – |
| Dividend yield | 0.19% | – |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | GEHC | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | +32.6% | -44.0% |
| 2024 | +1.3% | -12.7% |
| 2025 | +5.1% | +5.7% |
| 2026 | -11.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GEHC and VXZ good diversifiers for each other?
Yes. With a correlation of -0.42, GEHC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GEHC and VXZ?
As of 2026-08-27, the correlation of weekly returns between GEHC and VXZ is -0.42 over 3 years, -0.41 over 1 year and -0.41 over 5 years.
Is VXZ a good diversifier for GEHC?
Yes. With a correlation of -0.42, GEHC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.42 mean?
On the −1 to +1 scale, -0.42 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/gehc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gehc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GEHC correlations · VXZ correlations
