GRWG vs VXZ: Correlation
How closely do GrowGeneration Corp. (GRWG) 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 GRWG and VXZ?
Over the past 3 years, GRWG and VXZ moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.18 versus -0.31 over 3 years. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -641.3 %².
Out of 18 assets tracked against GRWG, VXZ lands near the bottom at #17. The trailing year gives GRWG the advantage: -1.2% versus -16.1%, a 14.9-point spread. Note the risk asymmetry: GRWG runs 3.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GRWG vs VXZ: side by side
| GRWG (GrowGeneration Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.2% | -16.1% |
| 5-year return | -94.6% | -53.1% |
| Volatility (ann.) | 79.8% | 25.6% |
| Beta vs S&P 500 | 1.88 | -1.31 |
| Max drawdown (3Y) | -76.3% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRWG | VXZ |
|---|---|---|
| 2022 | -70.0% | +0.5% |
| 2023 | -36.0% | -44.0% |
| 2024 | -32.7% | -12.7% |
| 2025 | -11.2% | +5.7% |
| 2026 | +10.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRWG and VXZ good diversifiers for each other?
Yes. With a correlation of -0.31, GRWG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GRWG and VXZ?
The GRWG/VXZ correlation stands at -0.31 on a 3-year window (1 year: -0.18, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for GRWG?
Yes. With a correlation of -0.31, GRWG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/grwg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grwg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GRWG correlations · VXZ correlations
