KEX vs VXZ: Correlation
Kirby Corporation (KEX) 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 -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KEX and VXZ?
Across a 3-year window, the weekly returns of KEX and VXZ correlate at -0.42, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.01) than the 3-year average (-0.42). Stretching to 5 years gives -0.40, with an annualized covariance of -365.5 %².
Among the 10 assets we track against KEX, VXZ sits near the bottom by co-movement, at rank #10. The last year tells two different stories: KEX led by 58.4 percentage points, +42.3% for KEX 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.
KEX vs VXZ: side by side
| KEX (Kirby Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +42.3% | -16.1% |
| 5-year return | +160.1% | -53.1% |
| Volatility (ann.) | 33.9% | 25.6% |
| Beta vs S&P 500 | 1.08 | -1.31 |
| Max drawdown (3Y) | -38.8% | -36.4% |
| Market cap | $7.4B | – |
| P/E (trailing) | 21.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KEX | VXZ |
|---|---|---|
| 2022 | +8.3% | +0.5% |
| 2023 | +22.0% | -44.0% |
| 2024 | +34.8% | -12.7% |
| 2025 | +4.1% | +5.7% |
| 2026 | +26.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KEX and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
FAQ
What is the correlation between KEX and VXZ?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with 0.01 over the last year and -0.40 over 5 years.
Is VXZ a good diversifier for KEX?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
What does a correlation of -0.42 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/kex-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kex-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KEX correlations · VXZ correlations
