GLOB vs VXZ: Correlation
Measured on weekly returns over the past three years, Globant S.A. (GLOB) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLOB and VXZ?
On 3 years of weekly data the GLOB/VXZ correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.17) runs above the 3-year figure (-0.31). The 5-year figure is -0.39, and annualized covariance runs at -404.7 %².
Out of 12 assets tracked against GLOB, VXZ lands near the bottom at #11. The last year tells two different stories: VXZ led by 24.7 percentage points, -40.8% for GLOB against -16.1% for VXZ. Risk is not evenly split, since GLOB carries 2.0 times the volatility of the other side.
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.
GLOB vs VXZ: side by side
| GLOB (Globant S.A.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -40.8% | -16.1% |
| 5-year return | -87.5% | -53.1% |
| Volatility (ann.) | 50.9% | 25.6% |
| Beta vs S&P 500 | 1.27 | -1.31 |
| Max drawdown (3Y) | -88.9% | -36.4% |
| Market cap | $1.7B | – |
| P/E (trailing) | 15.2 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GLOB | VXZ |
|---|---|---|
| 2022 | -46.5% | +0.5% |
| 2023 | +41.5% | -44.0% |
| 2024 | -9.9% | -12.7% |
| 2025 | -69.5% | +5.7% |
| 2026 | -38.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLOB and VXZ good diversifiers for each other?
Yes. With a correlation of -0.31, GLOB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GLOB and VXZ?
As of 2026-08-27, the correlation of weekly returns between GLOB and VXZ is -0.31 over 3 years, -0.17 over 1 year and -0.39 over 5 years.
Is VXZ a good diversifier for GLOB?
Yes. With a correlation of -0.31, GLOB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 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/glob-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/glob-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GLOB correlations · VXZ correlations
