ING vs VXZ: Correlation
ING Group, N.V. (ING) 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 -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ING and VXZ?
Across a 3-year window, the weekly returns of ING and VXZ correlate at -0.42, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.64) runs below the 3-year figure (-0.42). Stretching to 5 years gives -0.49, with an annualized covariance of -298.5 %².
Out of 16 assets tracked against ING, VXZ lands near the bottom at #15. The last year tells two different stories: ING led by 68.6 percentage points, +52.5% for ING 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.
ING vs VXZ: side by side
| ING (ING Group, N.V.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +52.5% | -16.1% |
| 5-year return | +269.9% | -53.1% |
| Volatility (ann.) | 27.5% | 25.6% |
| Beta vs S&P 500 | 0.94 | -1.31 |
| Max drawdown (3Y) | -19.9% | -36.4% |
| Market cap | $100.1B | – |
| P/E (trailing) | 13.2 | – |
| Dividend yield | 3.19% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ING | VXZ |
|---|---|---|
| 2022 | -4.2% | +0.5% |
| 2023 | +31.9% | -44.0% |
| 2024 | +12.2% | -12.7% |
| 2025 | +88.3% | +5.7% |
| 2026 | +30.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ING and VXZ good diversifiers for each other?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ING and VXZ?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with -0.64 over the last year and -0.49 over 5 years.
Is VXZ a good diversifier for ING?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.42 mean?
A reading of -0.42 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/ing-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ing-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ING correlations · VXZ correlations
