INCY vs VXZ: Correlation
Incyte (INCY) 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 -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INCY and VXZ?
On 3 years of weekly data the INCY/VXZ correlation comes out at -0.22, 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 -0.20, and annualized covariance runs at -188.6 %².
Among the 35 assets we track against INCY, VXZ sits near the bottom by co-movement, at rank #34. Correlation aside, the last 12 months split them widely, with INCY ahead by 66.7 points (+50.6% versus -16.1%).
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.
INCY vs VXZ: side by side
| INCY (Incyte) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +50.6% | -16.1% |
| 5-year return | +68.0% | -53.1% |
| Volatility (ann.) | 33.1% | 25.6% |
| Beta vs S&P 500 | 0.45 | -1.31 |
| Max drawdown (3Y) | -33.8% | -36.4% |
| Market cap | $25.9B | – |
| P/E (trailing) | 16.3 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | INCY | VXZ |
|---|---|---|
| 2022 | +9.4% | +0.5% |
| 2023 | -21.8% | -44.0% |
| 2024 | +10.0% | -12.7% |
| 2025 | +43.0% | +5.7% |
| 2026 | +29.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INCY and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between INCY and VXZ?
As of 2026-08-27, the correlation of weekly returns between INCY and VXZ is -0.22 over 3 years, -0.28 over 1 year and -0.20 over 5 years.
Is VXZ a good diversifier for INCY?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 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/incy-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/incy-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: INCY correlations · VXZ correlations
