JBL vs VXZ: Correlation
Measured on weekly returns over the past three years, Jabil (JBL) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBL and VXZ?
Across a 3-year window, the weekly returns of JBL and VXZ correlate at -0.37, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. Stretching to 5 years gives -0.44, with an annualized covariance of -382.3 %².
VXZ is close to the least connected end of JBL's tracked universe, ranking #32 of 34. The last year tells two different stories: JBL led by 66.5 percentage points, +50.4% for JBL against -16.1% for VXZ. Risk is not evenly split, since JBL carries 1.6 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.
JBL vs VXZ: side by side
| JBL (Jabil) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +50.4% | -16.1% |
| 5-year return | +405.5% | -53.1% |
| Volatility (ann.) | 40.6% | 25.6% |
| Beta vs S&P 500 | 1.47 | -1.31 |
| Max drawdown (3Y) | -36.8% | -36.4% |
| Market cap | $32.7B | – |
| P/E (trailing) | 38.9 | – |
| Dividend yield | 0.10% | – |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | JBL | VXZ |
|---|---|---|
| 2022 | -2.5% | +0.5% |
| 2023 | +87.4% | -44.0% |
| 2024 | +13.3% | -12.7% |
| 2025 | +58.7% | +5.7% |
| 2026 | +37.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBL and VXZ good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between JBL and VXZ?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with -0.31 over the last year and -0.44 over 5 years.
Is VXZ a good diversifier for JBL?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
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/jbl-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jbl-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JBL correlations · VXZ correlations
