IRON vs VXZ: Correlation
How closely do Disc Medicine, Inc. (IRON) 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 -0.41, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IRON and VXZ?
On 3 years of weekly data the IRON/VXZ correlation comes out at -0.41, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.19) than the 3-year average (-0.41). The 5-year figure is -0.26, and annualized covariance runs at -623.3 %².
VXZ is close to the least connected end of IRON's tracked universe, ranking #13 of 15. Correlation aside, the last 12 months split them widely, with IRON ahead by 53.8 points (+37.7% versus -16.1%). One caveat on sizing: IRON is 2.3 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.
IRON vs VXZ: side by side
| IRON (Disc Medicine, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +37.7% | -16.1% |
| 5-year return | -32.4% | -53.1% |
| Volatility (ann.) | 59.7% | 25.6% |
| Beta vs S&P 500 | 1.70 | -1.31 |
| Max drawdown (3Y) | -64.8% | -36.4% |
| Market cap | $3.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IRON | VXZ |
|---|---|---|
| 2022 | -77.2% | +0.5% |
| 2023 | +190.4% | -44.0% |
| 2024 | +9.8% | -12.7% |
| 2025 | +25.3% | +5.7% |
| 2026 | +4.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRON and VXZ good diversifiers for each other?
Yes. With a correlation of -0.41, IRON and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IRON and VXZ?
As of 2026-08-27, the correlation of weekly returns between IRON and VXZ is -0.41 over 3 years, -0.19 over 1 year and -0.26 over 5 years.
Is VXZ a good diversifier for IRON?
Yes. With a correlation of -0.41, IRON and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 mean?
A reading of -0.41 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/iron-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iron-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IRON correlations · VXZ correlations
