KODK vs VXZ: Correlation
Eastman Kodak Company Common New (KODK) 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 -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KODK and VXZ?
Over the past 3 years, KODK and VXZ moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -525.3 %².
VXZ is close to the least connected end of KODK's tracked universe, ranking #12 of 12. Correlation aside, the last 12 months split them widely, with KODK ahead by 77.7 points (+61.6% versus -16.1%). Note the risk asymmetry: KODK runs 2.7 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.
KODK vs VXZ: side by side
| KODK (Eastman Kodak Company Common New) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +61.6% | -16.1% |
| 5-year return | +31.0% | -53.1% |
| Volatility (ann.) | 68.0% | 25.6% |
| Beta vs S&P 500 | 1.59 | -1.31 |
| Max drawdown (3Y) | -47.2% | -36.4% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KODK | VXZ |
|---|---|---|
| 2022 | -34.8% | +0.5% |
| 2023 | +27.9% | -44.0% |
| 2024 | +68.5% | -12.7% |
| 2025 | +28.8% | +5.7% |
| 2026 | +11.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KODK and VXZ good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between KODK and VXZ?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.25 over the last year and -0.33 over 5 years.
Is VXZ a good diversifier for KODK?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 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/kodk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kodk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KODK correlations · VXZ correlations
