LDOS vs VXZ: Correlation
How closely do Leidos (LDOS) 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 -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LDOS and VXZ?
Across a 3-year window, the weekly returns of LDOS and VXZ correlate at -0.30, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.23 over 1 year against -0.30 over 3. Stretching to 5 years gives -0.31, with an annualized covariance of -244.5 %².
VXZ is close to the least connected end of LDOS's tracked universe, ranking #34 of 36. On 12-month performance VXZ holds a 6.8-point edge, -22.9% against -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.
LDOS vs VXZ: side by side
| LDOS (Leidos) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -22.9% | -16.1% |
| 5-year return | +52.1% | -53.1% |
| Volatility (ann.) | 31.4% | 25.6% |
| Beta vs S&P 500 | 0.87 | -1.31 |
| Max drawdown (3Y) | -49.5% | -36.4% |
| Market cap | $17.6B | – |
| P/E (trailing) | 12.8 | – |
| Dividend yield | 1.23% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | LDOS | VXZ |
|---|---|---|
| 2022 | +20.0% | +0.5% |
| 2023 | +4.5% | -44.0% |
| 2024 | +34.5% | -12.7% |
| 2025 | +26.5% | +5.7% |
| 2026 | -22.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LDOS and VXZ good diversifiers for each other?
Yes. With a correlation of -0.30, LDOS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LDOS and VXZ?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.23 over the last year and -0.31 over 5 years.
Is VXZ a good diversifier for LDOS?
Yes. With a correlation of -0.30, LDOS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/ldos-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ldos-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LDOS correlations · VXZ correlations
