LEVI vs VXZ: Correlation
Measured on weekly returns over the past three years, Levi Strauss & Co (LEVI) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.34, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LEVI and VXZ?
On 3 years of weekly data the LEVI/VXZ correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.53) than the 3-year average (-0.34). The 5-year figure is -0.42, and annualized covariance runs at -309.9 %².
Out of 12 assets tracked against LEVI, VXZ lands near the bottom at #11. Over the last 12 months LEVI came out ahead by 13.6 percentage points (-2.5% 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.
LEVI vs VXZ: side by side
| LEVI (Levi Strauss & Co) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -2.5% | -16.1% |
| 5-year return | -10.8% | -53.1% |
| Volatility (ann.) | 35.5% | 25.6% |
| Beta vs S&P 500 | 1.05 | -1.31 |
| Max drawdown (3Y) | -47.5% | -36.4% |
| Market cap | $8.1B | – |
| P/E (trailing) | 15.4 | – |
| Dividend yield | 2.61% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LEVI | VXZ |
|---|---|---|
| 2022 | -36.5% | +0.5% |
| 2023 | +10.0% | -44.0% |
| 2024 | +7.5% | -12.7% |
| 2025 | +23.4% | +5.7% |
| 2026 | +3.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LEVI and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between LEVI and VXZ?
The LEVI/VXZ correlation stands at -0.34 on a 3-year window (1 year: -0.53, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for LEVI?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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/levi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/levi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LEVI correlations · VXZ correlations
