GNTX vs VXZ: Correlation
Measured on weekly returns over the past three years, Gentex Corporation (GNTX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GNTX and VXZ?
Across a 3-year window, the weekly returns of GNTX and VXZ correlate at -0.33, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.23) sits close to the 3-year figure. Stretching to 5 years gives -0.41, with an annualized covariance of -210.7 %².
Among the 12 assets we track against GNTX, VXZ sits near the bottom by co-movement, at rank #12. Their 12-month results are close: -17.2% for GNTX 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.
GNTX vs VXZ: side by side
| GNTX (Gentex Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -17.2% | -16.1% |
| 5-year return | -18.8% | -53.1% |
| Volatility (ann.) | 24.9% | 25.6% |
| Beta vs S&P 500 | 0.61 | -1.31 |
| Max drawdown (3Y) | -43.0% | -36.4% |
| Market cap | $4.9B | – |
| P/E (trailing) | 12.2 | – |
| Dividend yield | 2.01% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GNTX | VXZ |
|---|---|---|
| 2022 | -20.4% | +0.5% |
| 2023 | +21.8% | -44.0% |
| 2024 | -10.7% | -12.7% |
| 2025 | -17.4% | +5.7% |
| 2026 | +0.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GNTX and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between GNTX and VXZ?
The GNTX/VXZ correlation stands at -0.33 on a 3-year window (1 year: -0.23, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for GNTX?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
What does a correlation of -0.33 mean?
On the −1 to +1 scale, -0.33 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/gntx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gntx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GNTX correlations · VXZ correlations
