HNST vs VXZ: Correlation
The Honest Company, Inc. (HNST) 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 -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HNST and VXZ?
Across a 3-year window, the weekly returns of HNST and VXZ correlate at -0.27, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.20 lands near the 3-year figure. Stretching to 5 years gives -0.32, with an annualized covariance of -554.4 %².
Out of 11 assets tracked against HNST, VXZ lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months HNST outperformed by 60.8 percentage points (+44.7% for HNST against -16.1% for VXZ). One caveat on sizing: HNST is 3.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
HNST vs VXZ: side by side
| HNST (The Honest Company, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +44.7% | -16.1% |
| 5-year return | -42.6% | -53.1% |
| Volatility (ann.) | 79.5% | 25.6% |
| Beta vs S&P 500 | 1.81 | -1.31 |
| Max drawdown (3Y) | -75.5% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HNST | VXZ |
|---|---|---|
| 2022 | -62.8% | +0.5% |
| 2023 | +9.6% | -44.0% |
| 2024 | +110.0% | -12.7% |
| 2025 | -62.8% | +5.7% |
| 2026 | +123.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HNST and VXZ good diversifiers for each other?
Yes. With a correlation of -0.27, HNST and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HNST and VXZ?
The HNST/VXZ correlation stands at -0.27 on a 3-year window (1 year: -0.20, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for HNST?
Yes. With a correlation of -0.27, HNST and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 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/hnst-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hnst-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HNST correlations · VXZ correlations
