IEX vs VXZ: Correlation
IDEX Corporation (IEX) 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 -0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEX and VXZ?
Across a 3-year window, the weekly returns of IEX and VXZ correlate at -0.44, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.34 lands near the 3-year figure. Stretching to 5 years gives -0.49, with an annualized covariance of -264.8 %².
Out of 40 assets tracked against IEX, VXZ lands near the bottom at #39. The last year tells two different stories: IEX led by 59.1 percentage points, +43.0% for IEX 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.
IEX vs VXZ: side by side
| IEX (IDEX Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +43.0% | -16.1% |
| 5-year return | +10.5% | -53.1% |
| Volatility (ann.) | 23.3% | 25.6% |
| Beta vs S&P 500 | 0.89 | -1.31 |
| Max drawdown (3Y) | -34.6% | -36.4% |
| Market cap | $17.2B | – |
| P/E (trailing) | 33.8 | – |
| Dividend yield | 1.23% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | IEX | VXZ |
|---|---|---|
| 2022 | -2.2% | +0.5% |
| 2023 | -3.8% | -44.0% |
| 2024 | -2.4% | -12.7% |
| 2025 | -13.7% | +5.7% |
| 2026 | +32.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEX and VXZ good diversifiers for each other?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IEX and VXZ?
As of 2026-08-27, the correlation of weekly returns between IEX and VXZ is -0.44 over 3 years, -0.34 over 1 year and -0.49 over 5 years.
Is VXZ a good diversifier for IEX?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.44 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/iex-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iex-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IEX correlations · VXZ correlations
