GLAD vs VXZ: Correlation
Measured on weekly returns over the past three years, Gl (GLAD) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.48, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLAD and VXZ?
On 3 years of weekly data the GLAD/VXZ correlation comes out at -0.48, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.34) than the 3-year average (-0.48). The 5-year figure is -0.46, and annualized covariance runs at -279.8 %².
Out of 15 assets tracked against GLAD, VXZ lands near the bottom at #14. Their 12-month results are close: -16.7% for GLAD 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.
GLAD vs VXZ: side by side
| GLAD (Gl) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -16.7% | -16.1% |
| 5-year return | +32.9% | -53.1% |
| Volatility (ann.) | 22.7% | 25.6% |
| Beta vs S&P 500 | 0.75 | -1.31 |
| Max drawdown (3Y) | -39.6% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | 9.3 | – |
| Dividend yield | 9.35% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GLAD | VXZ |
|---|---|---|
| 2022 | -10.4% | +0.5% |
| 2023 | +22.7% | -44.0% |
| 2024 | +47.0% | -12.7% |
| 2025 | -21.1% | +5.7% |
| 2026 | +2.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLAD and VXZ good diversifiers for each other?
Yes. With a correlation of -0.48, GLAD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GLAD and VXZ?
The GLAD/VXZ correlation stands at -0.48 on a 3-year window (1 year: -0.34, 5 years: -0.46), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for GLAD?
Yes. With a correlation of -0.48, GLAD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.48 mean?
On the −1 to +1 scale, -0.48 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/glad-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/glad-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GLAD correlations · VXZ correlations
