JRSH vs VXZ: Correlation
How closely do Jerash Holdings (US), Inc. (JRSH) 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 -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JRSH and VXZ?
Over the past 3 years, JRSH and VXZ moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Over 5 years the correlation is -0.17, and the annualized covariance of weekly returns is -181.7 %².
Out of 13 assets tracked against JRSH, VXZ lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months JRSH outperformed by 90.6 percentage points (+74.5% for JRSH 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.
JRSH vs VXZ: side by side
| JRSH (Jerash Holdings (US), Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +74.5% | -16.1% |
| 5-year return | -9.0% | -53.1% |
| Volatility (ann.) | 27.8% | 25.6% |
| Beta vs S&P 500 | 0.45 | -1.31 |
| Max drawdown (3Y) | -25.2% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | 15.0 | – |
| Dividend yield | 3.55% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JRSH | VXZ |
|---|---|---|
| 2022 | -37.6% | +0.5% |
| 2023 | -15.5% | -44.0% |
| 2024 | +17.2% | -12.7% |
| 2025 | -5.4% | +5.7% |
| 2026 | +89.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JRSH and VXZ good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between JRSH and VXZ?
As of 2026-08-27, the correlation of weekly returns between JRSH and VXZ is -0.26 over 3 years, -0.27 over 1 year and -0.17 over 5 years.
Is VXZ a good diversifier for JRSH?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
A reading of -0.26 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/jrsh-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jrsh-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JRSH correlations · VXZ correlations
