LAD vs VXZ: Correlation
How closely do Lithia Motors, Inc. (LAD) 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 -0.36, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LAD and VXZ?
Across a 3-year window, the weekly returns of LAD and VXZ correlate at -0.36, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.46) than the 3-year average (-0.36). Stretching to 5 years gives -0.38, with an annualized covariance of -330.5 %².
VXZ is close to the least connected end of LAD's tracked universe, ranking #15 of 15. Correlation aside, the last 12 months split them widely, with LAD ahead by 26.1 points (+10.0% 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.
LAD vs VXZ: side by side
| LAD (Lithia Motors, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +10.0% | -16.1% |
| 5-year return | +17.3% | -53.1% |
| Volatility (ann.) | 35.4% | 25.6% |
| Beta vs S&P 500 | 1.11 | -1.31 |
| Max drawdown (3Y) | -37.8% | -36.4% |
| Market cap | $8.2B | – |
| P/E (trailing) | 12.3 | – |
| Dividend yield | 0.64% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LAD | VXZ |
|---|---|---|
| 2022 | -30.6% | +0.5% |
| 2023 | +62.0% | -44.0% |
| 2024 | +9.3% | -12.7% |
| 2025 | -6.3% | +5.7% |
| 2026 | +12.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LAD and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between LAD and VXZ?
The LAD/VXZ correlation stands at -0.36 on a 3-year window (1 year: -0.46, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for LAD?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 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/lad-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lad-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LAD correlations · VXZ correlations
