LMAT vs VXZ: Correlation
LeMaitre Vascular, Inc. (LMAT) 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 -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LMAT and VXZ?
On 3 years of weekly data the LMAT/VXZ correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.01) runs above the 3-year figure (-0.26). The 5-year figure is -0.26, and annualized covariance runs at -230.1 %².
VXZ is close to the least connected end of LMAT's tracked universe, ranking #11 of 14. Their 12-month results are close: -15.9% for LMAT 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.
LMAT vs VXZ: side by side
| LMAT (LeMaitre Vascular, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -15.9% | -16.1% |
| 5-year return | +47.2% | -53.1% |
| Volatility (ann.) | 35.0% | 25.6% |
| Beta vs S&P 500 | 0.57 | -1.31 |
| Max drawdown (3Y) | -32.5% | -36.4% |
| Market cap | $1.8B | – |
| P/E (trailing) | 27.9 | – |
| Dividend yield | 1.13% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LMAT | VXZ |
|---|---|---|
| 2022 | -7.4% | +0.5% |
| 2023 | +24.6% | -44.0% |
| 2024 | +63.6% | -12.7% |
| 2025 | -11.2% | +5.7% |
| 2026 | -1.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LMAT and VXZ good diversifiers for each other?
Yes. With a correlation of -0.26, LMAT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LMAT and VXZ?
The LMAT/VXZ correlation stands at -0.26 on a 3-year window (1 year: 0.01, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for LMAT?
Yes. With a correlation of -0.26, LMAT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
A reading of -0.26 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/lmat-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lmat-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LMAT correlations · VXZ correlations
