GLUE vs VXZ: Correlation
How closely do Monte Rosa Therapeutics, Inc. (GLUE) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLUE and VXZ?
Across a 3-year window, the weekly returns of GLUE and VXZ correlate at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.15 over 1 year against -0.23 over 3. Stretching to 5 years gives -0.23, with an annualized covariance of -615.5 %².
Out of 16 assets tracked against GLUE, VXZ lands near the bottom at #16. Their recent paths diverged sharply: over the last 12 months GLUE outperformed by 222.7 percentage points (+206.6% for GLUE against -16.1% for VXZ). One caveat on sizing: GLUE is 4.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GLUE vs VXZ: side by side
| GLUE (Monte Rosa Therapeutics, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +206.6% | -16.1% |
| 5-year return | -61.7% | -53.1% |
| Volatility (ann.) | 104.5% | 25.6% |
| Beta vs S&P 500 | 1.91 | -1.31 |
| Max drawdown (3Y) | -64.3% | -36.4% |
| Market cap | $1.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GLUE | VXZ |
|---|---|---|
| 2022 | -62.7% | +0.5% |
| 2023 | -25.8% | -44.0% |
| 2024 | +22.8% | -12.7% |
| 2025 | +125.9% | +5.7% |
| 2026 | -8.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLUE and VXZ good diversifiers for each other?
Yes. With a correlation of -0.23, GLUE and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GLUE and VXZ?
The GLUE/VXZ correlation stands at -0.23 on a 3-year window (1 year: -0.15, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for GLUE?
Yes. With a correlation of -0.23, GLUE and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/glue-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/glue-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GLUE correlations · VXZ correlations
