LNN vs VXZ: Correlation
How closely do Lindsay Corporation (LNN) 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 -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LNN and VXZ?
Across a 3-year window, the weekly returns of LNN and VXZ correlate at -0.26, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.11) than the 3-year average (-0.26). Stretching to 5 years gives -0.32, with an annualized covariance of -179.0 %².
VXZ is close to the least connected end of LNN's tracked universe, ranking #8 of 10. Their 12-month results are close: -17.6% for LNN 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.
LNN vs VXZ: side by side
| LNN (Lindsay Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -17.6% | -16.1% |
| 5-year return | -27.8% | -53.1% |
| Volatility (ann.) | 26.8% | 25.6% |
| Beta vs S&P 500 | 0.46 | -1.31 |
| Max drawdown (3Y) | -30.0% | -36.4% |
| Market cap | $1.2B | – |
| P/E (trailing) | 21.9 | – |
| Dividend yield | 1.30% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LNN | VXZ |
|---|---|---|
| 2022 | +8.1% | +0.5% |
| 2023 | -19.8% | -44.0% |
| 2024 | -7.3% | -12.7% |
| 2025 | +0.8% | +5.7% |
| 2026 | -2.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LNN 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 LNN and VXZ?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.11 over the last year and -0.32 over 5 years.
Is VXZ a good diversifier for LNN?
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?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lnn-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lnn-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LNN correlations · VXZ correlations
