ILMN vs VXZ: Correlation
How closely do Illumina, Inc. (ILMN) 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 -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ILMN and VXZ?
On 3 years of weekly data the ILMN/VXZ correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.29 over 3. The 5-year figure is -0.34, and annualized covariance runs at -335.8 %².
VXZ is close to the least connected end of ILMN's tracked universe, ranking #9 of 11. The last year tells two different stories: ILMN led by 144.8 percentage points, +128.7% for ILMN against -16.1% for VXZ. Note the risk asymmetry: ILMN runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ILMN vs VXZ: side by side
| ILMN (Illumina, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +128.7% | -16.1% |
| 5-year return | -48.8% | -53.1% |
| Volatility (ann.) | 45.9% | 25.6% |
| Beta vs S&P 500 | 1.22 | -1.31 |
| Max drawdown (3Y) | -57.1% | -36.4% |
| Market cap | $34.4B | – |
| P/E (trailing) | 42.0 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ILMN | VXZ |
|---|---|---|
| 2022 | -46.9% | +0.5% |
| 2023 | -31.1% | -44.0% |
| 2024 | -1.3% | -12.7% |
| 2025 | -1.8% | +5.7% |
| 2026 | +73.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ILMN and VXZ good diversifiers for each other?
Yes. With a correlation of -0.29, ILMN and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ILMN and VXZ?
The ILMN/VXZ correlation stands at -0.29 on a 3-year window (1 year: -0.22, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ILMN?
Yes. With a correlation of -0.29, ILMN and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 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/ilmn-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ilmn-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ILMN correlations · VXZ correlations
