GTEC vs VXZ: Correlation
Greenland Technologies Holding Corporation - Class A (GTEC) 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 -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTEC and VXZ?
Over the past 3 years, GTEC and VXZ moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.24 over 3. Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -579.6 %².
VXZ is close to the least connected end of GTEC's tracked universe, ranking #10 of 10. Correlation aside, the last 12 months split them widely, with VXZ ahead by 24.7 points (-40.8% versus -16.1%). One caveat on sizing: GTEC is 3.7 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.
GTEC vs VXZ: side by side
| GTEC (Greenland Technologies Holding Corporation - Class A) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -40.8% | -16.1% |
| 5-year return | -87.4% | -53.1% |
| Volatility (ann.) | 94.1% | 25.6% |
| Beta vs S&P 500 | 1.39 | -1.31 |
| Max drawdown (3Y) | -89.7% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | 1.4 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GTEC | VXZ |
|---|---|---|
| 2022 | -66.1% | +0.5% |
| 2023 | +28.0% | -44.0% |
| 2024 | -30.5% | -12.7% |
| 2025 | -68.4% | +5.7% |
| 2026 | +37.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTEC and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between GTEC and VXZ?
As of 2026-08-27, the correlation of weekly returns between GTEC and VXZ is -0.24 over 3 years, -0.22 over 1 year and -0.24 over 5 years.
Is VXZ a good diversifier for GTEC?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 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/gtec-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gtec-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GTEC correlations · VXZ correlations
