GNRC vs VXZ: Correlation
Measured on weekly returns over the past three years, Generac (GNRC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.40, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GNRC and VXZ?
On 3 years of weekly data the GNRC/VXZ correlation comes out at -0.40, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.20) than the 3-year average (-0.40). The 5-year figure is -0.40, and annualized covariance runs at -476.3 %².
VXZ is close to the least connected end of GNRC's tracked universe, ranking #35 of 35. Their recent paths diverged sharply: over the last 12 months GNRC outperformed by 21.6 percentage points (+5.5% for GNRC against -16.1% for VXZ). One caveat on sizing: GNRC is 1.8 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.
GNRC vs VXZ: side by side
| GNRC (Generac) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +5.5% | -16.1% |
| 5-year return | -55.4% | -53.1% |
| Volatility (ann.) | 46.1% | 25.6% |
| Beta vs S&P 500 | 1.35 | -1.31 |
| Max drawdown (3Y) | -47.8% | -36.4% |
| Market cap | $11.6B | – |
| P/E (trailing) | 47.4 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | GNRC | VXZ |
|---|---|---|
| 2022 | -71.4% | +0.5% |
| 2023 | +28.4% | -44.0% |
| 2024 | +20.0% | -12.7% |
| 2025 | -12.0% | +5.7% |
| 2026 | +44.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GNRC and VXZ good diversifiers for each other?
Yes. With a correlation of -0.40, GNRC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GNRC and VXZ?
As of 2026-08-27, the correlation of weekly returns between GNRC and VXZ is -0.40 over 3 years, -0.20 over 1 year and -0.40 over 5 years.
Is VXZ a good diversifier for GNRC?
Yes. With a correlation of -0.40, GNRC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.40 mean?
A reading of -0.40 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/gnrc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gnrc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GNRC correlations · VXZ correlations
