KKR vs VXZ: Correlation
Measured on weekly returns over the past three years, KKR & Co. (KKR) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.60, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KKR and VXZ?
Over the past 3 years, KKR and VXZ moved with a correlation of -0.60, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.29) runs above the 3-year figure (-0.60). Over 5 years the correlation is -0.60, and the annualized covariance of weekly returns is -581.8 %².
Out of 37 assets tracked against KKR, VXZ lands near the bottom at #37. On 12-month performance VXZ holds a 5.5-point edge, -21.6% against -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.
KKR vs VXZ: side by side
| KKR (KKR & Co.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -21.6% | -16.1% |
| 5-year return | +77.3% | -53.1% |
| Volatility (ann.) | 37.8% | 25.6% |
| Beta vs S&P 500 | 1.76 | -1.31 |
| Max drawdown (3Y) | -49.4% | -36.4% |
| Market cap | $101.0B | – |
| P/E (trailing) | 34.7 | – |
| Dividend yield | 0.70% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | KKR | VXZ |
|---|---|---|
| 2022 | -37.0% | +0.5% |
| 2023 | +80.5% | -44.0% |
| 2024 | +79.6% | -12.7% |
| 2025 | -13.3% | +5.7% |
| 2026 | -13.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KKR and VXZ good diversifiers for each other?
Yes. With a correlation of -0.60, KKR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between KKR and VXZ?
The KKR/VXZ correlation stands at -0.60 on a 3-year window (1 year: -0.29, 5 years: -0.60), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for KKR?
Yes. With a correlation of -0.60, KKR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.60 mean?
On the −1 to +1 scale, -0.60 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/kkr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kkr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KKR correlations · VXZ correlations
