HIVE vs VXZ: Correlation
HIVE Digital Technologies Ltd (HIVE) 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 -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIVE and VXZ?
On 3 years of weekly data the HIVE/VXZ correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.20 over 1 year against -0.25 over 3. The 5-year figure is -0.33, and annualized covariance runs at -595.3 %².
VXZ is close to the least connected end of HIVE's tracked universe, ranking #17 of 19. The last year tells two different stories: HIVE led by 20.2 percentage points, +4.1% for HIVE against -16.1% for VXZ. Risk is not evenly split, since HIVE carries 3.7 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.
HIVE vs VXZ: side by side
| HIVE (HIVE Digital Technologies Ltd) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +4.1% | -16.1% |
| 5-year return | -80.7% | -53.1% |
| Volatility (ann.) | 94.1% | 25.6% |
| Beta vs S&P 500 | 2.26 | -1.31 |
| Max drawdown (3Y) | -77.1% | -36.4% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HIVE | VXZ |
|---|---|---|
| 2022 | -89.1% | +0.5% |
| 2023 | +214.6% | -44.0% |
| 2024 | -37.1% | -12.7% |
| 2025 | -9.5% | +5.7% |
| 2026 | +18.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIVE and VXZ good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HIVE and VXZ?
As of 2026-08-27, the correlation of weekly returns between HIVE and VXZ is -0.25 over 3 years, -0.20 over 1 year and -0.33 over 5 years.
Is VXZ a good diversifier for HIVE?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
A reading of -0.25 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/hive-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hive-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HIVE correlations · VXZ correlations
