KNX vs VXZ: Correlation
Knight-Swift Transportation Holdings Inc. (KNX) 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 KNX and VXZ?
On 3 years of weekly data the KNX/VXZ correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.27 versus -0.42 over 3 years. The 5-year figure is -0.43, and annualized covariance runs at -344.5 %².
Out of 17 assets tracked against KNX, VXZ lands near the bottom at #17. Their recent paths diverged sharply: over the last 12 months KNX outperformed by 74.0 percentage points (+57.9% for KNX 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.
KNX vs VXZ: side by side
| KNX (Knight-Swift Transportation Holdings Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +57.9% | -16.1% |
| 5-year return | +37.4% | -53.1% |
| Volatility (ann.) | 31.7% | 25.6% |
| Beta vs S&P 500 | 1.00 | -1.31 |
| Max drawdown (3Y) | -35.7% | -36.4% |
| Market cap | $11.2B | – |
| P/E (trailing) | 255.2 | – |
| Dividend yield | 1.09% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KNX | VXZ |
|---|---|---|
| 2022 | -13.2% | +0.5% |
| 2023 | +11.1% | -44.0% |
| 2024 | -6.9% | -12.7% |
| 2025 | +0.1% | +5.7% |
| 2026 | +32.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KNX 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 KNX and VXZ?
The KNX/VXZ correlation stands at -0.42 on a 3-year window (1 year: -0.27, 5 years: -0.43), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for KNX?
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/knx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/knx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KNX correlations · VXZ correlations
