LHX vs VXZ: Correlation
L3Harris (LHX) 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 -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LHX and VXZ?
On 3 years of weekly data the LHX/VXZ correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.20 over 3. The 5-year figure is -0.24, and annualized covariance runs at -119.7 %².
Out of 30 assets tracked against LHX, VXZ lands near the bottom at #27. On 12-month performance LHX holds a 12.3-point edge, -3.8% 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.
LHX vs VXZ: side by side
| LHX (L3Harris) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -3.8% | -16.1% |
| 5-year return | +24.4% | -53.1% |
| Volatility (ann.) | 23.0% | 25.6% |
| Beta vs S&P 500 | 0.51 | -1.31 |
| Max drawdown (3Y) | -30.3% | -36.4% |
| Market cap | $48.8B | – |
| P/E (trailing) | 26.6 | – |
| Dividend yield | 1.09% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | LHX | VXZ |
|---|---|---|
| 2022 | -0.5% | +0.5% |
| 2023 | +3.7% | -44.0% |
| 2024 | +1.9% | -12.7% |
| 2025 | +42.3% | +5.7% |
| 2026 | -10.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LHX and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between LHX and VXZ?
The LHX/VXZ correlation stands at -0.20 on a 3-year window (1 year: -0.22, 5 years: -0.24), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for LHX?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/lhx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lhx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LHX correlations · VXZ correlations
