KNSA vs VXZ: Correlation
How closely do Kiniksa Pharmaceuticals International, plc - Class A (KNSA) 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 -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KNSA and VXZ?
On 3 years of weekly data the KNSA/VXZ correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.11) than the 3-year average (-0.22). The 5-year figure is -0.15, and annualized covariance runs at -263.1 %².
VXZ is close to the least connected end of KNSA's tracked universe, ranking #10 of 12. The last year tells two different stories: KNSA led by 152.9 percentage points, +136.8% for KNSA against -16.1% for VXZ. Note the risk asymmetry: KNSA runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
KNSA vs VXZ: side by side
| KNSA (Kiniksa Pharmaceuticals International, plc - Class A) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +136.8% | -16.1% |
| 5-year return | +550.9% | -53.1% |
| Volatility (ann.) | 46.0% | 25.6% |
| Beta vs S&P 500 | 0.55 | -1.31 |
| Max drawdown (3Y) | -34.1% | -36.4% |
| Market cap | $6.2B | – |
| P/E (trailing) | 79.8 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KNSA | VXZ |
|---|---|---|
| 2022 | +27.3% | +0.5% |
| 2023 | +17.1% | -44.0% |
| 2024 | +12.8% | -12.7% |
| 2025 | +108.5% | +5.7% |
| 2026 | +93.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KNSA and VXZ good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between KNSA and VXZ?
As of 2026-08-27, the correlation of weekly returns between KNSA and VXZ is -0.22 over 3 years, -0.11 over 1 year and -0.15 over 5 years.
Is VXZ a good diversifier for KNSA?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 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/knsa-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/knsa-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KNSA correlations · VXZ correlations
