HLT vs VXZ: Correlation
Hilton Worldwide (HLT) 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 -0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLT and VXZ?
Over the past 3 years, HLT and VXZ moved with a correlation of -0.52, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.38) runs above the 3-year figure (-0.52). Over 5 years the correlation is -0.48, and the annualized covariance of weekly returns is -273.8 %².
Among the 40 assets we track against HLT, VXZ sits near the bottom by co-movement, at rank #39. Correlation aside, the last 12 months split them widely, with HLT ahead by 34.2 points (+18.1% versus -16.1%).
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.
HLT vs VXZ: side by side
| HLT (Hilton Worldwide) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +18.1% | -16.1% |
| 5-year return | +162.7% | -53.1% |
| Volatility (ann.) | 20.7% | 25.6% |
| Beta vs S&P 500 | 0.85 | -1.31 |
| Max drawdown (3Y) | -26.4% | -36.4% |
| Market cap | $73.3B | – |
| P/E (trailing) | 47.8 | – |
| Dividend yield | 0.18% | – |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | HLT | VXZ |
|---|---|---|
| 2022 | -18.7% | +0.5% |
| 2023 | +44.7% | -44.0% |
| 2024 | +36.1% | -12.7% |
| 2025 | +16.5% | +5.7% |
| 2026 | +13.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLT and VXZ good diversifiers for each other?
Yes. With a correlation of -0.52, HLT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HLT and VXZ?
As of 2026-08-27, the correlation of weekly returns between HLT and VXZ is -0.52 over 3 years, -0.38 over 1 year and -0.48 over 5 years.
Is VXZ a good diversifier for HLT?
Yes. With a correlation of -0.52, HLT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.52 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hlt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hlt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HLT correlations · VXZ correlations
