HGV vs VXZ: Correlation
How closely do Hilton Grand Vacations Inc. (HGV) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.48, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HGV and VXZ?
Across a 3-year window, the weekly returns of HGV and VXZ correlate at -0.48, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.62) than the 3-year average (-0.48). Stretching to 5 years gives -0.49, with an annualized covariance of -447.4 %².
Among the 37 assets we track against HGV, VXZ sits near the bottom by co-movement, at rank #36. The trailing year gives HGV the advantage: -7.2% versus -16.1%, a 8.9-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.
HGV vs VXZ: side by side
| HGV (Hilton Grand Vacations Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -7.2% | -16.1% |
| 5-year return | +1.7% | -53.1% |
| Volatility (ann.) | 36.3% | 25.6% |
| Beta vs S&P 500 | 1.38 | -1.31 |
| Max drawdown (3Y) | -34.6% | -36.4% |
| Market cap | $3.4B | – |
| P/E (trailing) | 25.6 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HGV | VXZ |
|---|---|---|
| 2022 | -26.0% | +0.5% |
| 2023 | +4.3% | -44.0% |
| 2024 | -3.1% | -12.7% |
| 2025 | +14.9% | +5.7% |
| 2026 | -2.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HGV and VXZ good diversifiers for each other?
Yes. With a correlation of -0.48, HGV and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HGV and VXZ?
The HGV/VXZ correlation stands at -0.48 on a 3-year window (1 year: -0.62, 5 years: -0.49), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for HGV?
Yes. With a correlation of -0.48, HGV and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.48 mean?
A reading of -0.48 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/hgv-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hgv-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HGV correlations · VXZ correlations
