HUBB vs VXZ: Correlation
Measured on weekly returns over the past three years, Hubbell Incorporated (HUBB) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.40, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HUBB and VXZ?
Across a 3-year window, the weekly returns of HUBB and VXZ correlate at -0.40, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.24 versus -0.40 over 3 years. Stretching to 5 years gives -0.40, with an annualized covariance of -286.0 %².
Among the 36 assets we track against HUBB, VXZ sits near the bottom by co-movement, at rank #35. Correlation aside, the last 12 months split them widely, with HUBB ahead by 22.8 points (+6.7% 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.
HUBB vs VXZ: side by side
| HUBB (Hubbell Incorporated) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.7% | -16.1% |
| 5-year return | +142.6% | -53.1% |
| Volatility (ann.) | 28.3% | 25.6% |
| Beta vs S&P 500 | 1.10 | -1.31 |
| Max drawdown (3Y) | -32.6% | -36.4% |
| Market cap | $24.8B | – |
| P/E (trailing) | 27.9 | – |
| Dividend yield | 1.18% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | HUBB | VXZ |
|---|---|---|
| 2022 | +15.1% | +0.5% |
| 2023 | +42.4% | -44.0% |
| 2024 | +28.9% | -12.7% |
| 2025 | +7.4% | +5.7% |
| 2026 | +6.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HUBB and VXZ good diversifiers for each other?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HUBB and VXZ?
The HUBB/VXZ correlation stands at -0.40 on a 3-year window (1 year: -0.24, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for HUBB?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.40 mean?
On the −1 to +1 scale, -0.40 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/hubb-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hubb-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HUBB correlations · VXZ correlations
