INVZ vs VXX: Correlation
How closely do Innoviz Technologies Ltd. (INVZ) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INVZ and VXX?
Over the past 3 years, INVZ and VXX moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.18) runs above the 3-year figure (-0.34). Over 5 years the correlation is -0.29, and the annualized covariance of weekly returns is -2165.0 %².
Out of 10 assets tracked against INVZ, VXX lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with VXX ahead by 29.3 points (-79.0% versus -49.7%). One caveat on sizing: INVZ is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
INVZ vs VXX: side by side
| INVZ (Innoviz Technologies Ltd.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -79.0% | -49.7% |
| 5-year return | -95.3% | -95.6% |
| Volatility (ann.) | 103.4% | 60.9% |
| Beta vs S&P 500 | 2.69 | -3.31 |
| Max drawdown (3Y) | -88.5% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INVZ | VXX |
|---|---|---|
| 2022 | -38.0% | -23.8% |
| 2023 | -35.6% | -72.5% |
| 2024 | -33.6% | -26.2% |
| 2025 | -49.2% | -42.2% |
| 2026 | -58.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INVZ and VXX good diversifiers for each other?
Yes. With a correlation of -0.34, INVZ and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between INVZ and VXX?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.18 over the last year and -0.29 over 5 years.
Is VXX a good diversifier for INVZ?
Yes. With a correlation of -0.34, INVZ and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/invz-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/invz-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: INVZ correlations · VXX correlations
