JOE vs VXZ: Correlation
How closely do St. Joe Company (The) (JOE) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.44, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JOE and VXZ?
Across a 3-year window, the weekly returns of JOE and VXZ correlate at -0.44, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.20 versus -0.44 over 3 years. Stretching to 5 years gives -0.45, with an annualized covariance of -316.3 %².
Out of 12 assets tracked against JOE, VXZ lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months JOE outperformed by 51.2 percentage points (+35.1% for JOE against -16.1% for VXZ).
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.
JOE vs VXZ: side by side
| JOE (St. Joe Company (The)) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +35.1% | -16.1% |
| 5-year return | +53.5% | -53.1% |
| Volatility (ann.) | 28.2% | 25.6% |
| Beta vs S&P 500 | 0.84 | -1.31 |
| Max drawdown (3Y) | -35.4% | -36.4% |
| Market cap | $3.9B | – |
| P/E (trailing) | 32.5 | – |
| Dividend yield | 0.90% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JOE | VXZ |
|---|---|---|
| 2022 | -25.1% | +0.5% |
| 2023 | +57.1% | -44.0% |
| 2024 | -24.6% | -12.7% |
| 2025 | +33.7% | +5.7% |
| 2026 | +15.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JOE and VXZ good diversifiers for each other?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between JOE and VXZ?
The JOE/VXZ correlation stands at -0.44 on a 3-year window (1 year: -0.20, 5 years: -0.45), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for JOE?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.44 mean?
On the −1 to +1 scale, -0.44 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/joe-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/joe-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JOE correlations · VXZ correlations
