GRBK vs VXZ: Correlation
How closely do Green Brick Partners, Inc. (GRBK) 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 -0.40, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRBK and VXZ?
On 3 years of weekly data the GRBK/VXZ correlation comes out at -0.40, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.43 lands near the 3-year figure. The 5-year figure is -0.40, and annualized covariance runs at -377.6 %².
Among the 27 assets we track against GRBK, VXZ sits near the bottom by co-movement, at rank #27. The last year tells two different stories: GRBK led by 20.6 percentage points, +4.5% for GRBK 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.
GRBK vs VXZ: side by side
| GRBK (Green Brick Partners, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +4.5% | -16.1% |
| 5-year return | +186.8% | -53.1% |
| Volatility (ann.) | 37.3% | 25.6% |
| Beta vs S&P 500 | 1.07 | -1.31 |
| Max drawdown (3Y) | -36.1% | -36.4% |
| Market cap | $3.1B | – |
| P/E (trailing) | 11.1 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRBK | VXZ |
|---|---|---|
| 2022 | -20.1% | +0.5% |
| 2023 | +114.4% | -44.0% |
| 2024 | +8.8% | -12.7% |
| 2025 | +10.9% | +5.7% |
| 2026 | +16.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRBK and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between GRBK and VXZ?
The GRBK/VXZ correlation stands at -0.40 on a 3-year window (1 year: -0.43, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for GRBK?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
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/grbk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grbk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GRBK correlations · VXZ correlations
