HOOD vs VXZ: Correlation
How closely do Robinhood Markets (HOOD) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.40, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOOD and VXZ?
On 3 years of weekly data the HOOD/VXZ correlation comes out at -0.40, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.45) sits close to the 3-year figure. The 5-year figure is -0.43, and annualized covariance runs at -734.3 %².
Among the 39 assets we track against HOOD, VXZ sits near the bottom by co-movement, at rank #37. Correlation aside, the last 12 months split them widely, with HOOD ahead by 22.7 points (+6.6% versus -16.1%). Risk is not evenly split, since HOOD carries 2.8 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.
HOOD vs VXZ: side by side
| HOOD (Robinhood Markets) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.6% | -16.1% |
| 5-year return | +151.5% | -53.1% |
| Volatility (ann.) | 71.4% | 25.6% |
| Beta vs S&P 500 | 2.88 | -1.31 |
| Max drawdown (3Y) | -57.3% | -36.4% |
| Market cap | $98.7B | – |
| P/E (trailing) | 48.1 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | HOOD | VXZ |
|---|---|---|
| 2022 | -54.2% | +0.5% |
| 2023 | +56.5% | -44.0% |
| 2024 | +192.5% | -12.7% |
| 2025 | +203.5% | +5.7% |
| 2026 | -3.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOOD and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between HOOD and VXZ?
The HOOD/VXZ correlation stands at -0.40 on a 3-year window (1 year: -0.45, 5 years: -0.43), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for HOOD?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 mean?
A reading of -0.40 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/hood-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hood-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HOOD correlations · VXZ correlations
