LION vs VXZ: Correlation
Measured on weekly returns over the past three years, Lionsgate Studios Corp (LION) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LION and VXZ?
Over the past 3 years, LION and VXZ moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Over 5 years the correlation is -0.22, and the annualized covariance of weekly returns is -307.3 %².
Out of 10 assets tracked against LION, VXZ lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with LION ahead by 95.0 points (+78.9% versus -16.1%). One caveat on sizing: LION is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
LION vs VXZ: side by side
| LION (Lionsgate Studios Corp) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +78.9% | -16.1% |
| 5-year return | +19.0% | -53.1% |
| Volatility (ann.) | 46.5% | 25.6% |
| Beta vs S&P 500 | 0.70 | -1.31 |
| Max drawdown (3Y) | -55.4% | -36.4% |
| Market cap | $3.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LION | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | +6.6% | -44.0% |
| 2024 | -28.3% | -12.7% |
| 2025 | +20.1% | +5.7% |
| 2026 | +26.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LION and VXZ good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LION and VXZ?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.21 over the last year and -0.22 over 5 years.
Is VXZ a good diversifier for LION?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/lion-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lion-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LION correlations · VXZ correlations
