LODE vs VXZ: Correlation
Comstock Inc. (LODE) 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 -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LODE and VXZ?
On 3 years of weekly data the LODE/VXZ correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.18) sits close to the 3-year figure. The 5-year figure is -0.20, and annualized covariance runs at -506.8 %².
VXZ is close to the least connected end of LODE's tracked universe, ranking #11 of 13. The last year tells two different stories: LODE led by 62.0 percentage points, +45.9% for LODE against -16.1% for VXZ. One caveat on sizing: LODE is 4.1 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.
LODE vs VXZ: side by side
| LODE (Comstock Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +45.9% | -16.1% |
| 5-year return | -88.3% | -53.1% |
| Volatility (ann.) | 105.0% | 25.6% |
| Beta vs S&P 500 | 1.39 | -1.31 |
| Max drawdown (3Y) | -78.5% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LODE | VXZ |
|---|---|---|
| 2022 | -78.3% | +0.5% |
| 2023 | +96.4% | -44.0% |
| 2024 | +45.5% | -12.7% |
| 2025 | -53.0% | +5.7% |
| 2026 | -5.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LODE and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between LODE and VXZ?
The LODE/VXZ correlation stands at -0.19 on a 3-year window (1 year: -0.18, 5 years: -0.20), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for LODE?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/lode-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lode-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LODE correlations · VXZ correlations
