J vs VXZ: Correlation
How closely do Jacobs Solutions (J) 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 -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are J and VXZ?
Over the past 3 years, J and VXZ moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.40 over 1 year against -0.37 over 3. Over 5 years the correlation is -0.42, and the annualized covariance of weekly returns is -241.4 %².
VXZ is close to the least connected end of J's tracked universe, ranking #34 of 34. Correlation aside, the last 12 months split them widely, with J ahead by 18.7 points (+2.6% versus -16.1%).
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.
J vs VXZ: side by side
| J (Jacobs Solutions) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +2.6% | -16.1% |
| 5-year return | +40.5% | -53.1% |
| Volatility (ann.) | 25.7% | 25.6% |
| Beta vs S&P 500 | 0.77 | -1.31 |
| Max drawdown (3Y) | -34.4% | -36.4% |
| Market cap | $17.6B | – |
| P/E (trailing) | 49.9 | – |
| Dividend yield | 0.90% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | J | VXZ |
|---|---|---|
| 2022 | -13.1% | +0.5% |
| 2023 | +9.0% | -44.0% |
| 2024 | +24.2% | -12.7% |
| 2025 | +1.1% | +5.7% |
| 2026 | +14.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are J and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between J and VXZ?
The J/VXZ correlation stands at -0.37 on a 3-year window (1 year: -0.40, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for J?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 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/j-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/j-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: J correlations · VXZ correlations
