HUBS vs VXZ: Correlation
HubSpot, Inc. (HUBS) 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 -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HUBS and VXZ?
Across a 3-year window, the weekly returns of HUBS and VXZ correlate at -0.29, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.15) runs above the 3-year figure (-0.29). Stretching to 5 years gives -0.37, with an annualized covariance of -374.3 %².
Out of 30 assets tracked against HUBS, VXZ lands near the bottom at #29. Correlation aside, the last 12 months split them widely, with VXZ ahead by 29.4 points (-45.5% versus -16.1%). One caveat on sizing: HUBS is 2.0 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.
HUBS vs VXZ: side by side
| HUBS (HubSpot, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -45.5% | -16.1% |
| 5-year return | -63.5% | -53.1% |
| Volatility (ann.) | 50.4% | 25.6% |
| Beta vs S&P 500 | 1.18 | -1.31 |
| Max drawdown (3Y) | -79.2% | -36.4% |
| Market cap | $13.1B | – |
| P/E (trailing) | 90.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HUBS | VXZ |
|---|---|---|
| 2022 | -56.1% | +0.5% |
| 2023 | +100.8% | -44.0% |
| 2024 | +20.0% | -12.7% |
| 2025 | -42.4% | +5.7% |
| 2026 | -36.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HUBS and VXZ good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HUBS and VXZ?
The HUBS/VXZ correlation stands at -0.29 on a 3-year window (1 year: -0.15, 5 years: -0.37), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for HUBS?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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/hubs-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hubs-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HUBS correlations · VXZ correlations
