LNC vs VXZ: Correlation
How closely do Lincoln National Corporation (LNC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.54, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LNC and VXZ?
On 3 years of weekly data the LNC/VXZ correlation comes out at -0.54, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.25) than the 3-year average (-0.54). The 5-year figure is -0.50, and annualized covariance runs at -465.0 %².
VXZ is close to the least connected end of LNC's tracked universe, ranking #12 of 12. The last year tells two different stories: LNC led by 23.5 percentage points, +7.4% for LNC 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.
LNC vs VXZ: side by side
| LNC (Lincoln National Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +7.4% | -16.1% |
| 5-year return | -18.1% | -53.1% |
| Volatility (ann.) | 33.9% | 25.6% |
| Beta vs S&P 500 | 1.14 | -1.31 |
| Max drawdown (3Y) | -29.1% | -36.4% |
| Market cap | $8.3B | – |
| P/E (trailing) | 3.7 | – |
| Dividend yield | 4.16% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LNC | VXZ |
|---|---|---|
| 2022 | -53.5% | +0.5% |
| 2023 | -5.6% | -44.0% |
| 2024 | +24.8% | -12.7% |
| 2025 | +48.0% | +5.7% |
| 2026 | +1.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LNC and VXZ good diversifiers for each other?
Yes. With a correlation of -0.54, LNC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LNC and VXZ?
As of 2026-08-27, the correlation of weekly returns between LNC and VXZ is -0.54 over 3 years, -0.25 over 1 year and -0.50 over 5 years.
Is VXZ a good diversifier for LNC?
Yes. With a correlation of -0.54, LNC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.54 mean?
A reading of -0.54 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/lnc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lnc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LNC correlations · VXZ correlations
