JBI vs VXZ: Correlation
Measured on weekly returns over the past three years, Janus International Group, Inc. (JBI) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBI and VXZ?
Across a 3-year window, the weekly returns of JBI and VXZ correlate at -0.30, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.49) runs below the 3-year figure (-0.30). Stretching to 5 years gives -0.31, with an annualized covariance of -347.6 %².
VXZ is close to the least connected end of JBI's tracked universe, ranking #11 of 11. The last year tells two different stories: VXZ led by 36.5 percentage points, -52.6% for JBI against -16.1% for VXZ. Risk is not evenly split, since JBI carries 1.8 times the volatility of the other side.
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.
JBI vs VXZ: side by side
| JBI (Janus International Group, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -52.6% | -16.1% |
| 5-year return | -66.6% | -53.1% |
| Volatility (ann.) | 46.0% | 25.6% |
| Beta vs S&P 500 | 1.01 | -1.31 |
| Max drawdown (3Y) | -69.3% | -36.4% |
| Market cap | $0.7B | – |
| P/E (trailing) | 21.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JBI | VXZ |
|---|---|---|
| 2022 | -24.0% | +0.5% |
| 2023 | +37.1% | -44.0% |
| 2024 | -43.7% | -12.7% |
| 2025 | -11.0% | +5.7% |
| 2026 | -24.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBI and VXZ good diversifiers for each other?
Yes. With a correlation of -0.30, JBI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between JBI and VXZ?
The JBI/VXZ correlation stands at -0.30 on a 3-year window (1 year: -0.49, 5 years: -0.31), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for JBI?
Yes. With a correlation of -0.30, JBI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 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/jbi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jbi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JBI correlations · VXZ correlations
