JBLU vs VXZ: Correlation
JetBlue Airways Corporation (JBLU) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBLU and VXZ?
On 3 years of weekly data the JBLU/VXZ correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.50) runs below the 3-year figure (-0.24). The 5-year figure is -0.33, and annualized covariance runs at -394.8 %².
Out of 10 assets tracked against JBLU, VXZ lands near the bottom at #8. The trailing year gives JBLU the advantage: -7.6% versus -16.1%, a 8.5-point spread. One caveat on sizing: JBLU is 2.5 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.
JBLU vs VXZ: side by side
| JBLU (JetBlue Airways Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -7.6% | -16.1% |
| 5-year return | -67.2% | -53.1% |
| Volatility (ann.) | 63.3% | 25.6% |
| Beta vs S&P 500 | 1.35 | -1.31 |
| Max drawdown (3Y) | -57.6% | -36.4% |
| Market cap | $1.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JBLU | VXZ |
|---|---|---|
| 2022 | -54.5% | +0.5% |
| 2023 | -14.4% | -44.0% |
| 2024 | +41.6% | -12.7% |
| 2025 | -42.1% | +5.7% |
| 2026 | +7.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBLU and VXZ good diversifiers for each other?
Yes. With a correlation of -0.24, JBLU and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between JBLU and VXZ?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.50 over the last year and -0.33 over 5 years.
Is VXZ a good diversifier for JBLU?
Yes. With a correlation of -0.24, JBLU and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/jblu-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jblu-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JBLU correlations · VXZ correlations
