GM vs VXZ: Correlation
General Motors (GM) 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 GM and VXZ?
Over the past 3 years, GM and VXZ moved with a correlation of -0.44, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.41 over 1 year against -0.44 over 3. Over 5 years the correlation is -0.52, and the annualized covariance of weekly returns is -363.3 %².
Among the 35 assets we track against GM, VXZ sits near the bottom by co-movement, at rank #34. The last year tells two different stories: GM led by 64.1 percentage points, +48.0% for GM 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.
GM vs VXZ: side by side
| GM (General Motors) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +48.0% | -16.1% |
| 5-year return | +82.5% | -53.1% |
| Volatility (ann.) | 32.2% | 25.6% |
| Beta vs S&P 500 | 0.98 | -1.31 |
| Max drawdown (3Y) | -29.1% | -36.4% |
| Market cap | $77.9B | – |
| P/E (trailing) | 38.6 | – |
| Dividend yield | 0.76% | – |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | GM | VXZ |
|---|---|---|
| 2022 | -42.4% | +0.5% |
| 2023 | +7.9% | -44.0% |
| 2024 | +49.8% | -12.7% |
| 2025 | +54.2% | +5.7% |
| 2026 | +6.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GM and VXZ good diversifiers for each other?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GM and VXZ?
Using weekly returns as of 2026-08-27: -0.44 over 3 years, with -0.41 over the last year and -0.52 over 5 years.
Is VXZ a good diversifier for GM?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
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/gm-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gm-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GM correlations · VXZ correlations
