HTH vs VXZ: Correlation
Hilltop Holdings Inc. (HTH) 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 -0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTH and VXZ?
On 3 years of weekly data the HTH/VXZ correlation comes out at -0.46, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.34) runs above the 3-year figure (-0.46). The 5-year figure is -0.45, and annualized covariance runs at -285.1 %².
VXZ is close to the least connected end of HTH's tracked universe, ranking #14 of 14. The last year tells two different stories: HTH led by 27.9 percentage points, +11.8% for HTH against -16.1% for VXZ.
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.
HTH vs VXZ: side by side
| HTH (Hilltop Holdings Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.8% | -16.1% |
| 5-year return | +29.0% | -53.1% |
| Volatility (ann.) | 24.1% | 25.6% |
| Beta vs S&P 500 | 0.61 | -1.31 |
| Max drawdown (3Y) | -21.8% | -36.4% |
| Market cap | $2.2B | – |
| P/E (trailing) | 14.3 | – |
| Dividend yield | 1.97% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HTH | VXZ |
|---|---|---|
| 2022 | -12.9% | +0.5% |
| 2023 | +19.8% | -44.0% |
| 2024 | -16.9% | -12.7% |
| 2025 | +21.3% | +5.7% |
| 2026 | +15.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTH and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
FAQ
What is the correlation between HTH and VXZ?
As of 2026-08-27, the correlation of weekly returns between HTH and VXZ is -0.46 over 3 years, -0.34 over 1 year and -0.45 over 5 years.
Is VXZ a good diversifier for HTH?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
What does a correlation of -0.46 mean?
On the −1 to +1 scale, -0.46 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/hth-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hth-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HTH correlations · VXZ correlations
