LFWD vs VXZ: Correlation
Lifeward Ltd. (LFWD) 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 -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LFWD and VXZ?
On 3 years of weekly data the LFWD/VXZ correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. The 5-year figure is -0.34, and annualized covariance runs at -721.4 %².
VXZ is close to the least connected end of LFWD's tracked universe, ranking #12 of 12. On 12-month performance LFWD holds a 14.5-point edge, -1.6% against -16.1%. Risk is not evenly split, since LFWD carries 3.6 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.
LFWD vs VXZ: side by side
| LFWD (Lifeward Ltd.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.6% | -16.1% |
| 5-year return | -93.8% | -53.1% |
| Volatility (ann.) | 91.5% | 25.6% |
| Beta vs S&P 500 | 1.20 | -1.31 |
| Max drawdown (3Y) | -95.6% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LFWD | VXZ |
|---|---|---|
| 2022 | -38.2% | +0.5% |
| 2023 | +2.4% | -44.0% |
| 2024 | -68.2% | -12.7% |
| 2025 | -66.6% | +5.7% |
| 2026 | +6.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LFWD and VXZ good diversifiers for each other?
Yes. With a correlation of -0.31, LFWD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LFWD and VXZ?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.28 over the last year and -0.34 over 5 years.
Is VXZ a good diversifier for LFWD?
Yes. With a correlation of -0.31, LFWD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
A reading of -0.31 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/lfwd-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lfwd-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LFWD correlations · VXZ correlations
