IA vs VXZ: Correlation
How closely do Innovative Solutions and Support, Inc. (IA) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IA and VXZ?
On 3 years of weekly data the IA/VXZ correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.29 lands near the 3-year figure. The 5-year figure is -0.21, and annualized covariance runs at -405.8 %².
Out of 10 assets tracked against IA, VXZ lands near the bottom at #9. The last year tells two different stories: IA led by 73.8 percentage points, +57.7% for IA against -16.1% for VXZ. Risk is not evenly split, since IA carries 2.6 times the volatility of the other side.
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.
IA vs VXZ: side by side
| IA (Innovative Solutions and Support, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +57.7% | -16.1% |
| 5-year return | +202.0% | -53.1% |
| Volatility (ann.) | 67.2% | 25.6% |
| Beta vs S&P 500 | 1.21 | -1.31 |
| Max drawdown (3Y) | -57.8% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IA | VXZ |
|---|---|---|
| 2022 | +25.3% | +0.5% |
| 2023 | +3.8% | -44.0% |
| 2024 | +0.1% | -12.7% |
| 2025 | +121.8% | +5.7% |
| 2026 | +11.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IA and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between IA and VXZ?
As of 2026-08-27, the correlation of weekly returns between IA and VXZ is -0.24 over 3 years, -0.29 over 1 year and -0.21 over 5 years.
Is VXZ a good diversifier for IA?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 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/ia-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ia-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IA correlations · VXZ correlations
