GNK vs VXZ: Correlation
How closely do Genco Shipping & Trading Limited (GNK) 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 -0.33, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GNK and VXZ?
Across a 3-year window, the weekly returns of GNK and VXZ correlate at -0.33, 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 (-0.33). Stretching to 5 years gives -0.29, with an annualized covariance of -279.7 %².
Out of 13 assets tracked against GNK, VXZ lands near the bottom at #12. The last year tells two different stories: GNK led by 79.7 percentage points, +63.6% for GNK 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.
GNK vs VXZ: side by side
| GNK (Genco Shipping & Trading Limited) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +63.6% | -16.1% |
| 5-year return | +93.4% | -53.1% |
| Volatility (ann.) | 33.1% | 25.6% |
| Beta vs S&P 500 | 0.98 | -1.31 |
| Max drawdown (3Y) | -47.1% | -36.4% |
| Market cap | $1.1B | – |
| P/E (trailing) | 28.4 | – |
| Dividend yield | 6.97% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GNK | VXZ |
|---|---|---|
| 2022 | +11.4% | +0.5% |
| 2023 | +14.4% | -44.0% |
| 2024 | -8.9% | -12.7% |
| 2025 | +39.1% | +5.7% |
| 2026 | +49.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GNK and VXZ good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GNK and VXZ?
As of 2026-08-27, the correlation of weekly returns between GNK and VXZ is -0.33 over 3 years, -0.17 over 1 year and -0.29 over 5 years.
Is VXZ a good diversifier for GNK?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.33 mean?
A reading of -0.33 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/gnk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gnk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GNK correlations · VXZ correlations
