KMI vs VXZ: Correlation
How closely do Kinder Morgan (KMI) 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 KMI and VXZ?
Across a 3-year window, the weekly returns of KMI and VXZ correlate at -0.26, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.23) runs above the 3-year figure (-0.26). Stretching to 5 years gives -0.30, with an annualized covariance of -145.8 %².
VXZ is close to the least connected end of KMI's tracked universe, ranking #32 of 33. Correlation aside, the last 12 months split them widely, with KMI ahead by 38.4 points (+22.3% 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.
KMI vs VXZ: side by side
| KMI (Kinder Morgan) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +22.3% | -16.1% |
| 5-year return | +153.0% | -53.1% |
| Volatility (ann.) | 22.1% | 25.6% |
| Beta vs S&P 500 | 0.29 | -1.31 |
| Max drawdown (3Y) | -18.4% | -36.4% |
| Market cap | $70.2B | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 3.69% | – |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | KMI | VXZ |
|---|---|---|
| 2022 | +21.2% | +0.5% |
| 2023 | +4.1% | -44.0% |
| 2024 | +64.4% | -12.7% |
| 2025 | +4.8% | +5.7% |
| 2026 | +18.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KMI and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between KMI and VXZ?
As of 2026-08-27, the correlation of weekly returns between KMI and VXZ is -0.26 over 3 years, 0.23 over 1 year and -0.30 over 5 years.
Is VXZ a good diversifier for KMI?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 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/kmi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kmi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KMI correlations · VXZ correlations
