GPI vs VXZ: Correlation
How closely do Group 1 Automotive, Inc. (GPI) 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 -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPI and VXZ?
Across a 3-year window, the weekly returns of GPI and VXZ correlate at -0.31, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.14) runs above the 3-year figure (-0.31). Stretching to 5 years gives -0.32, with an annualized covariance of -251.5 %².
VXZ is close to the least connected end of GPI's tracked universe, ranking #10 of 10. Correlation aside, the last 12 months split them widely, with VXZ ahead by 28.7 points (-44.8% versus -16.1%).
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.
GPI vs VXZ: side by side
| GPI (Group 1 Automotive, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -44.8% | -16.1% |
| 5-year return | +64.3% | -53.1% |
| Volatility (ann.) | 31.9% | 25.6% |
| Beta vs S&P 500 | 0.68 | -1.31 |
| Max drawdown (3Y) | -48.6% | -36.4% |
| Market cap | $3.1B | – |
| P/E (trailing) | 10.8 | – |
| Dividend yield | 0.04% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GPI | VXZ |
|---|---|---|
| 2022 | -6.9% | +0.5% |
| 2023 | +70.2% | -44.0% |
| 2024 | +39.1% | -12.7% |
| 2025 | -6.3% | +5.7% |
| 2026 | -33.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPI and VXZ good diversifiers for each other?
Yes. With a correlation of -0.31, GPI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GPI and VXZ?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.14 over the last year and -0.32 over 5 years.
Is VXZ a good diversifier for GPI?
Yes. With a correlation of -0.31, GPI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
A reading of -0.31 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/gpi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gpi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GPI correlations · VXZ correlations
