LUNG vs VXZ: Correlation
Pulmonx Corporation (LUNG) 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 -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LUNG and VXZ?
Across a 3-year window, the weekly returns of LUNG and VXZ correlate at -0.29, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.30 over 1 year against -0.29 over 3. Stretching to 5 years gives -0.26, with an annualized covariance of -650.6 %².
Out of 10 assets tracked against LUNG, VXZ lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with LUNG ahead by 46.2 points (+30.1% versus -16.1%). One caveat on sizing: LUNG is 3.5 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.
LUNG vs VXZ: side by side
| LUNG (Pulmonx Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +30.1% | -16.1% |
| 5-year return | -93.8% | -53.1% |
| Volatility (ann.) | 88.5% | 25.6% |
| Beta vs S&P 500 | 1.56 | -1.31 |
| Max drawdown (3Y) | -92.0% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LUNG | VXZ |
|---|---|---|
| 2022 | -73.7% | +0.5% |
| 2023 | +51.2% | -44.0% |
| 2024 | -46.7% | -12.7% |
| 2025 | -67.5% | +5.7% |
| 2026 | +9.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LUNG and VXZ good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LUNG and VXZ?
The LUNG/VXZ correlation stands at -0.29 on a 3-year window (1 year: -0.30, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for LUNG?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
A reading of -0.29 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/lung-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lung-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LUNG correlations · VXZ correlations
