JELD vs VXZ: Correlation
JELD-WEN Holding, Inc. (JELD) 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 -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JELD and VXZ?
On 3 years of weekly data the JELD/VXZ correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.39) than the 3-year average (-0.27). The 5-year figure is -0.32, and annualized covariance runs at -564.1 %².
Out of 16 assets tracked against JELD, VXZ lands near the bottom at #14. Correlation aside, the last 12 months split them widely, with VXZ ahead by 47.6 points (-63.7% versus -16.1%). Note the risk asymmetry: JELD runs 3.2 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.
JELD vs VXZ: side by side
| JELD (JELD-WEN Holding, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -63.7% | -16.1% |
| 5-year return | -92.5% | -53.1% |
| Volatility (ann.) | 80.7% | 25.6% |
| Beta vs S&P 500 | 2.01 | -1.31 |
| Max drawdown (3Y) | -95.5% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JELD | VXZ |
|---|---|---|
| 2022 | -63.4% | +0.5% |
| 2023 | +95.6% | -44.0% |
| 2024 | -56.6% | -12.7% |
| 2025 | -70.0% | +5.7% |
| 2026 | -11.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JELD and VXZ good diversifiers for each other?
Yes. With a correlation of -0.27, JELD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between JELD and VXZ?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.39 over the last year and -0.32 over 5 years.
Is VXZ a good diversifier for JELD?
Yes. With a correlation of -0.27, JELD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/jeld-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jeld-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JELD correlations · VXZ correlations
