HIFS vs VXZ: Correlation
Hingham Institution for Savings (HIFS) 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 -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIFS and VXZ?
On 3 years of weekly data the HIFS/VXZ correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.46 lands near the 3-year figure. The 5-year figure is -0.41, and annualized covariance runs at -430.6 %².
Among the 10 assets we track against HIFS, VXZ sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with HIFS ahead by 18.7 points (+2.6% versus -16.1%). Note the risk asymmetry: HIFS runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HIFS vs VXZ: side by side
| HIFS (Hingham Institution for Savings) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +2.6% | -16.1% |
| 5-year return | -2.0% | -53.1% |
| Volatility (ann.) | 40.5% | 25.6% |
| Beta vs S&P 500 | 1.05 | -1.31 |
| Max drawdown (3Y) | -27.8% | -36.4% |
| Market cap | $0.7B | – |
| P/E (trailing) | 10.0 | – |
| Dividend yield | 0.84% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HIFS | VXZ |
|---|---|---|
| 2022 | -33.6% | +0.5% |
| 2023 | -28.6% | -44.0% |
| 2024 | +31.9% | -12.7% |
| 2025 | +12.8% | +5.7% |
| 2026 | +6.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIFS and VXZ good diversifiers for each other?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HIFS and VXZ?
As of 2026-08-27, the correlation of weekly returns between HIFS and VXZ is -0.42 over 3 years, -0.46 over 1 year and -0.41 over 5 years.
Is VXZ a good diversifier for HIFS?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.42 mean?
A reading of -0.42 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/hifs-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hifs-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HIFS correlations · VXZ correlations
