HURC vs VXZ: Correlation
Hurco Companies, Inc. (HURC) 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 -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HURC and VXZ?
Across a 3-year window, the weekly returns of HURC and VXZ correlate at -0.30, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. Stretching to 5 years gives -0.28, with an annualized covariance of -300.0 %².
VXZ is close to the least connected end of HURC's tracked universe, ranking #9 of 10. The last year tells two different stories: HURC led by 41.5 percentage points, +25.4% for HURC against -16.1% for VXZ. One caveat on sizing: HURC is 1.5 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.
HURC vs VXZ: side by side
| HURC (Hurco Companies, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +25.4% | -16.1% |
| 5-year return | -28.0% | -53.1% |
| Volatility (ann.) | 39.5% | 25.6% |
| Beta vs S&P 500 | 0.89 | -1.31 |
| Max drawdown (3Y) | -52.0% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HURC | VXZ |
|---|---|---|
| 2022 | -10.0% | +0.5% |
| 2023 | -15.2% | -44.0% |
| 2024 | -9.7% | -12.7% |
| 2025 | -19.9% | +5.7% |
| 2026 | +45.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HURC and VXZ good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HURC and VXZ?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.25 over the last year and -0.28 over 5 years.
Is VXZ a good diversifier for HURC?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
A reading of -0.30 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/hurc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hurc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HURC correlations · VXZ correlations
