LDI vs VXZ: Correlation
loanDepot, Inc. (LDI) 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 -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LDI and VXZ?
Over the past 3 years, LDI and VXZ moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.40) than the 3-year average (-0.24). Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -521.3 %².
Among the 13 assets we track against LDI, VXZ sits near the bottom by co-movement, at rank #13. The last year tells two different stories: VXZ led by 37.6 percentage points, -53.7% for LDI against -16.1% for VXZ. Note the risk asymmetry: LDI runs 3.4 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.
LDI vs VXZ: side by side
| LDI (loanDepot, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -53.7% | -16.1% |
| 5-year return | -87.7% | -53.1% |
| Volatility (ann.) | 85.9% | 25.6% |
| Beta vs S&P 500 | 1.47 | -1.31 |
| Max drawdown (3Y) | -81.3% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LDI | VXZ |
|---|---|---|
| 2022 | -64.9% | +0.5% |
| 2023 | +113.3% | -44.0% |
| 2024 | -42.0% | -12.7% |
| 2025 | +1.5% | +5.7% |
| 2026 | -53.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LDI and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between LDI and VXZ?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.40 over the last year and -0.32 over 5 years.
Is VXZ a good diversifier for LDI?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ldi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ldi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LDI correlations · VXZ correlations
