HLIT vs VXZ: Correlation
Measured on weekly returns over the past three years, Harmonic Inc. (HLIT) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLIT and VXZ?
Over the past 3 years, HLIT and VXZ moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.34 lands near the 3-year figure. Over 5 years the correlation is -0.29, and the annualized covariance of weekly returns is -320.4 %².
Among the 11 assets we track against HLIT, VXZ sits near the bottom by co-movement, at rank #9. The last year tells two different stories: HLIT led by 45.5 percentage points, +29.4% for HLIT against -16.1% for VXZ. Note the risk asymmetry: HLIT runs 1.8 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.
HLIT vs VXZ: side by side
| HLIT (Harmonic Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +29.4% | -16.1% |
| 5-year return | +34.2% | -53.1% |
| Volatility (ann.) | 46.9% | 25.6% |
| Beta vs S&P 500 | 1.41 | -1.31 |
| Max drawdown (3Y) | -44.3% | -36.4% |
| Market cap | $1.3B | – |
| P/E (trailing) | 51.2 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLIT | VXZ |
|---|---|---|
| 2022 | +11.4% | +0.5% |
| 2023 | -0.5% | -44.0% |
| 2024 | +1.5% | -12.7% |
| 2025 | -25.2% | +5.7% |
| 2026 | +24.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLIT and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between HLIT and VXZ?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.34 over the last year and -0.29 over 5 years.
Is VXZ a good diversifier for HLIT?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/hlit-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hlit-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HLIT correlations · VXZ correlations
