HWKN vs VXZ: Correlation
Measured on weekly returns over the past three years, Hawkins, Inc. (HWKN) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HWKN and VXZ?
Across a 3-year window, the weekly returns of HWKN and VXZ correlate at -0.20, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.10) sits close to the 3-year figure. Stretching to 5 years gives -0.26, with an annualized covariance of -197.8 %².
Among the 10 assets we track against HWKN, VXZ sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months VXZ outperformed by 15.4 percentage points (-31.5% for HWKN 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.
HWKN vs VXZ: side by side
| HWKN (Hawkins, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -31.5% | -16.1% |
| 5-year return | +226.8% | -53.1% |
| Volatility (ann.) | 38.4% | 25.6% |
| Beta vs S&P 500 | 0.65 | -1.31 |
| Max drawdown (3Y) | -35.9% | -36.4% |
| Market cap | $2.5B | – |
| P/E (trailing) | 30.8 | – |
| Dividend yield | 0.64% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HWKN | VXZ |
|---|---|---|
| 2022 | -0.8% | +0.5% |
| 2023 | +84.7% | -44.0% |
| 2024 | +75.5% | -12.7% |
| 2025 | +16.5% | +5.7% |
| 2026 | -16.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HWKN and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between HWKN and VXZ?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.10 over the last year and -0.26 over 5 years.
Is VXZ a good diversifier for HWKN?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/hwkn-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hwkn-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HWKN correlations · VXZ correlations
