JETS vs VXZ: Correlation
Measured on weekly returns over the past three years, US Global Jets ETF (JETS) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.53, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JETS and VXZ?
Over the past 3 years, JETS and VXZ moved with a correlation of -0.53, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.61 over 1 year against -0.53 over 3. Over 5 years the correlation is -0.56, and the annualized covariance of weekly returns is -394.8 %².
VXZ is close to the least connected end of JETS's tracked universe, ranking #53 of 54. Correlation aside, the last 12 months split them widely, with JETS ahead by 29.3 points (+13.2% 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.
JETS vs VXZ: side by side
| JETS (US Global Jets ETF) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +13.2% | -16.1% |
| 5-year return | +30.9% | -53.1% |
| Volatility (ann.) | 29.2% | 25.6% |
| Beta vs S&P 500 | 1.16 | -1.31 |
| Max drawdown (3Y) | -35.2% | -36.4% |
| Sector / category | ETF · Thematic | US Listed |
Year-by-year returns
| Year | JETS | VXZ |
|---|---|---|
| 2022 | -19.0% | +0.5% |
| 2023 | +11.4% | -44.0% |
| 2024 | +33.2% | -12.7% |
| 2025 | +11.6% | +5.7% |
| 2026 | +4.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JETS and VXZ good diversifiers for each other?
Yes: at -0.53, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between JETS and VXZ?
As of 2026-08-27, the correlation of weekly returns between JETS and VXZ is -0.53 over 3 years, -0.61 over 1 year and -0.56 over 5 years.
Is VXZ a good diversifier for JETS?
Yes: at -0.53, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.53 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/jets-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jets-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JETS correlations · VXZ correlations
