GRX vs VXZ: Correlation
The Gabelli Healthcare & Wellness Trust (GRX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRX and VXZ?
On 3 years of weekly data the GRX/VXZ correlation comes out at -0.45, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.46 lands near the 3-year figure. The 5-year figure is -0.49, and annualized covariance runs at -174.9 %².
Out of 26 assets tracked against GRX, VXZ lands near the bottom at #26. Correlation aside, the last 12 months split them widely, with GRX ahead by 30.4 points (+14.3% versus -16.1%). Risk is not evenly split, since VXZ carries 1.7 times the volatility of the other side.
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.
GRX vs VXZ: side by side
| GRX (The Gabelli Healthcare & Wellness Trust) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +14.3% | -16.1% |
| 5-year return | +1.5% | -53.1% |
| Volatility (ann.) | 15.1% | 25.6% |
| Beta vs S&P 500 | 0.46 | -1.31 |
| Max drawdown (3Y) | -17.9% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | 67.0 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRX | VXZ |
|---|---|---|
| 2022 | -20.0% | +0.5% |
| 2023 | -3.3% | -44.0% |
| 2024 | +9.6% | -12.7% |
| 2025 | +7.0% | +5.7% |
| 2026 | +8.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRX and VXZ good diversifiers for each other?
Yes. With a correlation of -0.45, GRX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GRX and VXZ?
The GRX/VXZ correlation stands at -0.45 on a 3-year window (1 year: -0.46, 5 years: -0.49), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for GRX?
Yes. With a correlation of -0.45, GRX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.45 mean?
A reading of -0.45 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/grx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GRX correlations · VXZ correlations
