LULU vs VXZ: Correlation
Measured on weekly returns over the past three years, Lululemon Athletica (LULU) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LULU and VXZ?
Across a 3-year window, the weekly returns of LULU and VXZ correlate at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.51) than the 3-year average (-0.28). Stretching to 5 years gives -0.32, with an annualized covariance of -302.8 %².
VXZ is close to the least connected end of LULU's tracked universe, ranking #33 of 34. The last year tells two different stories: VXZ led by 28.0 percentage points, -44.1% for LULU against -16.1% for VXZ. Note the risk asymmetry: LULU runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
LULU vs VXZ: side by side
| LULU (Lululemon Athletica) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -44.1% | -16.1% |
| 5-year return | -72.3% | -53.1% |
| Volatility (ann.) | 41.8% | 25.6% |
| Beta vs S&P 500 | 0.98 | -1.31 |
| Max drawdown (3Y) | -79.4% | -36.4% |
| Market cap | $13.1B | – |
| P/E (trailing) | 9.4 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | LULU | VXZ |
|---|---|---|
| 2022 | -18.2% | +0.5% |
| 2023 | +59.6% | -44.0% |
| 2024 | -25.2% | -12.7% |
| 2025 | -45.7% | +5.7% |
| 2026 | -44.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LULU and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between LULU and VXZ?
The LULU/VXZ correlation stands at -0.28 on a 3-year window (1 year: -0.51, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for LULU?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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/lulu-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lulu-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LULU correlations · VXZ correlations
