HD vs VXZ: Correlation
Measured on weekly returns over the past three years, Home Depot (The) (HD) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.46, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HD and VXZ?
Over the past 3 years, HD and VXZ moved with a correlation of -0.46, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.55 lands near the 3-year figure. Over 5 years the correlation is -0.42, and the annualized covariance of weekly returns is -278.2 %².
VXZ is close to the least connected end of HD's tracked universe, ranking #54 of 54. Their 12-month results are close: -17.4% for HD against -16.1% for VXZ.
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.
HD vs VXZ: side by side
| HD (Home Depot (The)) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -17.4% | -16.1% |
| 5-year return | +13.8% | -53.1% |
| Volatility (ann.) | 23.6% | 25.6% |
| Beta vs S&P 500 | 0.87 | -1.31 |
| Max drawdown (3Y) | -28.8% | -36.4% |
| Market cap | $327.9B | – |
| P/E (trailing) | 23.4 | – |
| Dividend yield | 1.38% | – |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | HD | VXZ |
|---|---|---|
| 2022 | -22.0% | +0.5% |
| 2023 | +12.8% | -44.0% |
| 2024 | +15.0% | -12.7% |
| 2025 | -9.3% | +5.7% |
| 2026 | -3.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HD and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
FAQ
What is the correlation between HD and VXZ?
The HD/VXZ correlation stands at -0.46 on a 3-year window (1 year: -0.55, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for HD?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
What does a correlation of -0.46 mean?
A reading of -0.46 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/hd-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hd-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HD correlations · VXZ correlations
