GGG vs VXZ: Correlation
Graco Inc. (GGG) 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 -0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGG and VXZ?
On 3 years of weekly data the GGG/VXZ correlation comes out at -0.44, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.29) runs above the 3-year figure (-0.44). The 5-year figure is -0.51, and annualized covariance runs at -213.1 %².
VXZ is close to the least connected end of GGG's tracked universe, ranking #25 of 26. Over the last 12 months GGG came out ahead by 8.9 percentage points (-7.2% 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.
GGG vs VXZ: side by side
| GGG (Graco Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -7.2% | -16.1% |
| 5-year return | +7.7% | -53.1% |
| Volatility (ann.) | 19.0% | 25.6% |
| Beta vs S&P 500 | 0.70 | -1.31 |
| Max drawdown (3Y) | -22.6% | -36.4% |
| Market cap | $12.9B | – |
| P/E (trailing) | 25.0 | – |
| Dividend yield | 1.46% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GGG | VXZ |
|---|---|---|
| 2022 | -15.5% | +0.5% |
| 2023 | +30.6% | -44.0% |
| 2024 | -1.7% | -12.7% |
| 2025 | -1.5% | +5.7% |
| 2026 | -1.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGG and VXZ good diversifiers for each other?
Yes. With a correlation of -0.44, GGG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GGG and VXZ?
Using weekly returns as of 2026-08-27: -0.44 over 3 years, with -0.29 over the last year and -0.51 over 5 years.
Is VXZ a good diversifier for GGG?
Yes. With a correlation of -0.44, GGG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.44 mean?
On the −1 to +1 scale, -0.44 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/ggg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ggg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GGG correlations · VXZ correlations
