HBAN vs VXZ: Correlation
Measured on weekly returns over the past three years, Huntington Bancshares (HBAN) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.59, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBAN and VXZ?
Across a 3-year window, the weekly returns of HBAN and VXZ correlate at -0.59, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.50 over 1 year against -0.59 over 3. Stretching to 5 years gives -0.57, with an annualized covariance of -447.1 %².
Out of 55 assets tracked against HBAN, VXZ lands near the bottom at #55. The trailing year gives HBAN the advantage: -1.7% versus -16.1%, a 14.4-point spread.
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.
HBAN vs VXZ: side by side
| HBAN (Huntington Bancshares) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.7% | -16.1% |
| 5-year return | +36.8% | -53.1% |
| Volatility (ann.) | 29.8% | 25.6% |
| Beta vs S&P 500 | 1.07 | -1.31 |
| Max drawdown (3Y) | -30.0% | -36.4% |
| Market cap | $34.1B | – |
| P/E (trailing) | 13.1 | – |
| Dividend yield | 3.64% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | HBAN | VXZ |
|---|---|---|
| 2022 | -4.4% | +0.5% |
| 2023 | -4.7% | -44.0% |
| 2024 | +33.7% | -12.7% |
| 2025 | +10.8% | +5.7% |
| 2026 | -0.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBAN and VXZ good diversifiers for each other?
Yes: at -0.59, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HBAN and VXZ?
The HBAN/VXZ correlation stands at -0.59 on a 3-year window (1 year: -0.50, 5 years: -0.57), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for HBAN?
Yes: at -0.59, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.59 mean?
On the −1 to +1 scale, -0.59 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/hban-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hban-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HBAN correlations · VXZ correlations
