LASR vs VXZ: Correlation
nLIGHT, Inc. (LASR) 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 -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LASR and VXZ?
Across a 3-year window, the weekly returns of LASR and VXZ correlate at -0.27, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.06 versus -0.27 over 3 years. Stretching to 5 years gives -0.32, with an annualized covariance of -386.8 %².
VXZ is close to the least connected end of LASR's tracked universe, ranking #9 of 11. Their recent paths diverged sharply: over the last 12 months LASR outperformed by 72.5 percentage points (+56.4% for LASR against -16.1% for VXZ). Risk is not evenly split, since LASR carries 2.2 times the volatility of the other side.
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.
LASR vs VXZ: side by side
| LASR (nLIGHT, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +56.4% | -16.1% |
| 5-year return | +61.0% | -53.1% |
| Volatility (ann.) | 56.6% | 25.6% |
| Beta vs S&P 500 | 1.44 | -1.31 |
| Max drawdown (3Y) | -56.1% | -36.4% |
| Market cap | $2.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LASR | VXZ |
|---|---|---|
| 2022 | -57.7% | +0.5% |
| 2023 | +33.1% | -44.0% |
| 2024 | -22.3% | -12.7% |
| 2025 | +257.6% | +5.7% |
| 2026 | +19.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LASR and VXZ good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LASR and VXZ?
The LASR/VXZ correlation stands at -0.27 on a 3-year window (1 year: -0.06, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for LASR?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
A reading of -0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lasr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lasr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LASR correlations · VXZ correlations
