HUBG vs VXZ: Correlation
Measured on weekly returns over the past three years, Hub Group, Inc. (HUBG) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.43, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HUBG and VXZ?
On 3 years of weekly data the HUBG/VXZ correlation comes out at -0.43, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.29) than the 3-year average (-0.43). The 5-year figure is -0.41, and annualized covariance runs at -380.5 %².
VXZ is close to the least connected end of HUBG's tracked universe, ranking #20 of 21. Correlation aside, the last 12 months split them widely, with HUBG ahead by 26.2 points (+10.1% 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.
HUBG vs VXZ: side by side
| HUBG (Hub Group, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +10.1% | -16.1% |
| 5-year return | +17.3% | -53.1% |
| Volatility (ann.) | 34.2% | 25.6% |
| Beta vs S&P 500 | 1.10 | -1.31 |
| Max drawdown (3Y) | -40.8% | -36.4% |
| Market cap | $2.4B | – |
| P/E (trailing) | 23.0 | – |
| Dividend yield | 1.25% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HUBG | VXZ |
|---|---|---|
| 2022 | -5.6% | +0.5% |
| 2023 | +15.7% | -44.0% |
| 2024 | -2.0% | -12.7% |
| 2025 | -3.1% | +5.7% |
| 2026 | -5.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HUBG and VXZ good diversifiers for each other?
Yes. With a correlation of -0.43, HUBG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HUBG and VXZ?
The HUBG/VXZ correlation stands at -0.43 on a 3-year window (1 year: -0.29, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for HUBG?
Yes. With a correlation of -0.43, HUBG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.43 mean?
On the −1 to +1 scale, -0.43 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/hubg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hubg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HUBG correlations · VXZ correlations
