ISOU vs VXZ: Correlation
How closely do IsoEnergy Ltd. (ISOU) 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 -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ISOU and VXZ?
Across a 3-year window, the weekly returns of ISOU and VXZ correlate at -0.31, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.29 lands near the 3-year figure. Stretching to 5 years gives -0.28, with an annualized covariance of -526.1 %².
VXZ is close to the least connected end of ISOU's tracked universe, ranking #12 of 14. The last year tells two different stories: ISOU led by 72.1 percentage points, +56.0% for ISOU against -16.1% for VXZ. Note the risk asymmetry: ISOU runs 2.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ISOU vs VXZ: side by side
| ISOU (IsoEnergy Ltd.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +56.0% | -16.1% |
| 5-year return | +42.5% | -53.1% |
| Volatility (ann.) | 65.5% | 25.6% |
| Beta vs S&P 500 | 1.86 | -1.31 |
| Max drawdown (3Y) | -69.0% | -36.4% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ISOU | VXZ |
|---|---|---|
| 2022 | -28.1% | +0.5% |
| 2023 | +31.1% | -44.0% |
| 2024 | -35.1% | -12.7% |
| 2025 | +26.0% | +5.7% |
| 2026 | +34.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ISOU and VXZ good diversifiers for each other?
Yes. With a correlation of -0.31, ISOU and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ISOU and VXZ?
The ISOU/VXZ correlation stands at -0.31 on a 3-year window (1 year: -0.29, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ISOU?
Yes. With a correlation of -0.31, ISOU and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/isou-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/isou-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ISOU correlations · VXZ correlations
