GT vs VXZ: Correlation
Measured on weekly returns over the past three years, The Goodyear Tire & Rubber Company (GT) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GT and VXZ?
Over the past 3 years, GT and VXZ moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.41 over 1 year against -0.32 over 3. Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -363.3 %².
VXZ is close to the least connected end of GT's tracked universe, ranking #11 of 11. Over the last 12 months VXZ came out ahead by 12.1 percentage points (-28.2% against -16.1%). One caveat on sizing: GT is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GT vs VXZ: side by side
| GT (The Goodyear Tire & Rubber Company) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -28.2% | -16.1% |
| 5-year return | -61.1% | -53.1% |
| Volatility (ann.) | 45.0% | 25.6% |
| Beta vs S&P 500 | 0.80 | -1.31 |
| Max drawdown (3Y) | -62.8% | -36.4% |
| Market cap | $1.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GT | VXZ |
|---|---|---|
| 2022 | -52.4% | +0.5% |
| 2023 | +41.1% | -44.0% |
| 2024 | -37.2% | -12.7% |
| 2025 | -2.7% | +5.7% |
| 2026 | -29.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GT and VXZ good diversifiers for each other?
Yes. With a correlation of -0.32, GT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GT and VXZ?
As of 2026-08-27, the correlation of weekly returns between GT and VXZ is -0.32 over 3 years, -0.41 over 1 year and -0.38 over 5 years.
Is VXZ a good diversifier for GT?
Yes. With a correlation of -0.32, GT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GT correlations · VXZ correlations
