GRAB vs VXZ: Correlation
How closely do Grab Holdings Limited - Class A (GRAB) 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 -0.39, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRAB and VXZ?
Over the past 3 years, GRAB and VXZ moved with a correlation of -0.39, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.52) than the 3-year average (-0.39). Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -376.3 %².
Out of 17 assets tracked against GRAB, VXZ lands near the bottom at #15. The trailing year gives VXZ the advantage: -27.5% versus -16.1%, a 11.4-point spread.
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.
GRAB vs VXZ: side by side
| GRAB (Grab Holdings Limited - Class A) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -27.5% | -16.1% |
| 5-year return | -65.8% | -53.1% |
| Volatility (ann.) | 37.6% | 25.6% |
| Beta vs S&P 500 | 1.41 | -1.31 |
| Max drawdown (3Y) | -49.3% | -36.4% |
| Market cap | $14.7B | – |
| P/E (trailing) | 32.6 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRAB | VXZ |
|---|---|---|
| 2022 | -54.8% | +0.5% |
| 2023 | +4.7% | -44.0% |
| 2024 | +40.1% | -12.7% |
| 2025 | +5.7% | +5.7% |
| 2026 | -28.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRAB and VXZ good diversifiers for each other?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GRAB and VXZ?
As of 2026-08-27, the correlation of weekly returns between GRAB and VXZ is -0.39 over 3 years, -0.52 over 1 year and -0.33 over 5 years.
Is VXZ a good diversifier for GRAB?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.39 mean?
A reading of -0.39 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/grab-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grab-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GRAB correlations · VXZ correlations
