IOSP vs VXZ: Correlation
How closely do Innospec Inc. (IOSP) 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 -0.48, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IOSP and VXZ?
On 3 years of weekly data the IOSP/VXZ correlation comes out at -0.48, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.37) than the 3-year average (-0.48). The 5-year figure is -0.48, and annualized covariance runs at -325.1 %².
Among the 35 assets we track against IOSP, VXZ sits near the bottom by co-movement, at rank #35. Their recent paths diverged sharply: over the last 12 months IOSP outperformed by 27.4 percentage points (+11.3% for IOSP 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.
IOSP vs VXZ: side by side
| IOSP (Innospec Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.3% | -16.1% |
| 5-year return | +10.2% | -53.1% |
| Volatility (ann.) | 26.6% | 25.6% |
| Beta vs S&P 500 | 0.94 | -1.31 |
| Max drawdown (3Y) | -48.4% | -36.4% |
| Market cap | $2.3B | – |
| P/E (trailing) | 19.5 | – |
| Dividend yield | 1.87% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IOSP | VXZ |
|---|---|---|
| 2022 | +15.2% | +0.5% |
| 2023 | +21.5% | -44.0% |
| 2024 | -9.6% | -12.7% |
| 2025 | -28.9% | +5.7% |
| 2026 | +26.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IOSP and VXZ good diversifiers for each other?
Yes. With a correlation of -0.48, IOSP and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IOSP and VXZ?
Using weekly returns as of 2026-08-27: -0.48 over 3 years, with -0.37 over the last year and -0.48 over 5 years.
Is VXZ a good diversifier for IOSP?
Yes. With a correlation of -0.48, IOSP and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.48 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/iosp-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iosp-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IOSP correlations · VXZ correlations
