LEGH vs VXZ: Correlation
How closely do Legacy Housing Corporation (LEGH) 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 -0.38, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LEGH and VXZ?
Over the past 3 years, LEGH and VXZ moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.48 over 1 year against -0.38 over 3. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -340.5 %².
VXZ is close to the least connected end of LEGH's tracked universe, ranking #13 of 13. The last year tells two different stories: LEGH led by 17.7 percentage points, +1.6% for LEGH against -16.1% for VXZ.
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.
LEGH vs VXZ: side by side
| LEGH (Legacy Housing Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +1.6% | -16.1% |
| 5-year return | +49.1% | -53.1% |
| Volatility (ann.) | 34.8% | 25.6% |
| Beta vs S&P 500 | 0.84 | -1.31 |
| Max drawdown (3Y) | -34.9% | -36.4% |
| Market cap | $0.7B | – |
| P/E (trailing) | 13.2 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LEGH | VXZ |
|---|---|---|
| 2022 | -28.4% | +0.5% |
| 2023 | +33.0% | -44.0% |
| 2024 | -2.1% | -12.7% |
| 2025 | -20.9% | +5.7% |
| 2026 | +45.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LEGH and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between LEGH and VXZ?
The LEGH/VXZ correlation stands at -0.38 on a 3-year window (1 year: -0.48, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for LEGH?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 mean?
A reading of -0.38 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/legh-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/legh-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LEGH correlations · VXZ correlations
