IQV vs VXZ: Correlation
IQVIA (IQV) 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 -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IQV and VXZ?
Across a 3-year window, the weekly returns of IQV and VXZ correlate at -0.31, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.25 over 1 year against -0.31 over 3. Stretching to 5 years gives -0.41, with an annualized covariance of -301.7 %².
VXZ is close to the least connected end of IQV's tracked universe, ranking #37 of 37. The last year tells two different stories: IQV led by 55.1 percentage points, +39.0% for IQV 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.
IQV vs VXZ: side by side
| IQV (IQVIA) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +39.0% | -16.1% |
| 5-year return | +0.3% | -53.1% |
| Volatility (ann.) | 37.9% | 25.6% |
| Beta vs S&P 500 | 0.93 | -1.31 |
| Max drawdown (3Y) | -47.1% | -36.4% |
| Market cap | $43.2B | – |
| P/E (trailing) | 32.6 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | IQV | VXZ |
|---|---|---|
| 2022 | -27.4% | +0.5% |
| 2023 | +12.9% | -44.0% |
| 2024 | -15.1% | -12.7% |
| 2025 | +14.7% | +5.7% |
| 2026 | +16.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IQV and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between IQV and VXZ?
As of 2026-08-27, the correlation of weekly returns between IQV and VXZ is -0.31 over 3 years, -0.25 over 1 year and -0.41 over 5 years.
Is VXZ a good diversifier for IQV?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
A reading of -0.31 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/iqv-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iqv-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IQV correlations · VXZ correlations
