HBB vs VXZ: Correlation
Hamilton Beach Brands Holding Company (HBB) 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 HBB and VXZ?
Across a 3-year window, the weekly returns of HBB and VXZ correlate at -0.24, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.28 over 1 year against -0.24 over 3. Stretching to 5 years gives -0.24, with an annualized covariance of -340.4 %².
Among the 11 assets we track against HBB, VXZ sits near the bottom by co-movement, at rank #9. The last year tells two different stories: HBB led by 147.6 percentage points, +131.5% for HBB against -16.1% for VXZ. Risk is not evenly split, since HBB carries 2.2 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.
HBB vs VXZ: side by side
| HBB (Hamilton Beach Brands Holding Company) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +131.5% | -16.1% |
| 5-year return | +119.7% | -53.1% |
| Volatility (ann.) | 55.5% | 25.6% |
| Beta vs S&P 500 | 0.87 | -1.31 |
| Max drawdown (3Y) | -57.7% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | 7.6 | – |
| Dividend yield | 1.50% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HBB | VXZ |
|---|---|---|
| 2022 | -10.9% | +0.5% |
| 2023 | +46.4% | -44.0% |
| 2024 | -1.6% | -12.7% |
| 2025 | +0.5% | +5.7% |
| 2026 | +99.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBB and VXZ good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HBB and VXZ?
As of 2026-08-27, the correlation of weekly returns between HBB and VXZ is -0.24 over 3 years, -0.28 over 1 year and -0.24 over 5 years.
Is VXZ a good diversifier for HBB?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
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/hbb-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hbb-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HBB correlations · VXZ correlations
