HBT vs VXZ: Correlation
HBT Financial, Inc. (HBT) 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 -0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBT and VXZ?
On 3 years of weekly data the HBT/VXZ correlation comes out at -0.51, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.43 lands near the 3-year figure. The 5-year figure is -0.47, and annualized covariance runs at -345.5 %².
Among the 17 assets we track against HBT, VXZ sits near the bottom by co-movement, at rank #17. Correlation aside, the last 12 months split them widely, with HBT ahead by 54.4 points (+38.3% versus -16.1%).
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.
HBT vs VXZ: side by side
| HBT (HBT Financial, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +38.3% | -16.1% |
| 5-year return | +160.4% | -53.1% |
| Volatility (ann.) | 26.7% | 25.6% |
| Beta vs S&P 500 | 0.80 | -1.31 |
| Max drawdown (3Y) | -18.7% | -36.4% |
| Market cap | $1.3B | – |
| P/E (trailing) | 15.2 | – |
| Dividend yield | 2.47% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HBT | VXZ |
|---|---|---|
| 2022 | +8.1% | +0.5% |
| 2023 | +11.7% | -44.0% |
| 2024 | +7.7% | -12.7% |
| 2025 | +22.2% | +5.7% |
| 2026 | +41.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBT and VXZ good diversifiers for each other?
Yes: at -0.51, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HBT and VXZ?
The HBT/VXZ correlation stands at -0.51 on a 3-year window (1 year: -0.43, 5 years: -0.47), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for HBT?
Yes: at -0.51, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.51 mean?
On the −1 to +1 scale, -0.51 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/hbt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hbt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HBT correlations · VXZ correlations
