IDXX vs VXZ: Correlation
How closely do Idexx Laboratories (IDXX) 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 -0.38, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDXX and VXZ?
On 3 years of weekly data the IDXX/VXZ correlation comes out at -0.38, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. The 5-year figure is -0.42, and annualized covariance runs at -303.8 %².
VXZ is close to the least connected end of IDXX's tracked universe, ranking #34 of 35. Twelve-month performance is nearly a tie, at -14.9% for IDXX and -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.
IDXX vs VXZ: side by side
| IDXX (Idexx Laboratories) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -14.9% | -16.1% |
| 5-year return | -20.7% | -53.1% |
| Volatility (ann.) | 30.9% | 25.6% |
| Beta vs S&P 500 | 1.01 | -1.31 |
| Max drawdown (3Y) | -37.4% | -36.4% |
| Market cap | $42.9B | – |
| P/E (trailing) | 38.9 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | IDXX | VXZ |
|---|---|---|
| 2022 | -38.0% | +0.5% |
| 2023 | +36.1% | -44.0% |
| 2024 | -25.5% | -12.7% |
| 2025 | +63.6% | +5.7% |
| 2026 | -19.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDXX and VXZ good diversifiers for each other?
Yes. With a correlation of -0.38, IDXX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IDXX and VXZ?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.28 over the last year and -0.42 over 5 years.
Is VXZ a good diversifier for IDXX?
Yes. With a correlation of -0.38, IDXX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.38 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/idxx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/idxx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IDXX correlations · VXZ correlations
