LUNR vs VXZ: Correlation
Measured on weekly returns over the past three years, Intuitive Machines, Inc. (LUNR) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LUNR and VXZ?
On 3 years of weekly data the LUNR/VXZ correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.30) sits close to the 3-year figure. The 5-year figure is -0.18, and annualized covariance runs at -936.9 %².
VXZ is close to the least connected end of LUNR's tracked universe, ranking #10 of 12. Their recent paths diverged sharply: over the last 12 months LUNR outperformed by 96.1 percentage points (+80.0% for LUNR against -16.1% for VXZ). Risk is not evenly split, since LUNR carries 4.3 times the volatility of the other side.
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.
LUNR vs VXZ: side by side
| LUNR (Intuitive Machines, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +80.0% | -16.1% |
| 5-year return | +67.7% | -53.1% |
| Volatility (ann.) | 109.4% | 25.6% |
| Beta vs S&P 500 | 3.31 | -1.31 |
| Max drawdown (3Y) | -75.1% | -36.4% |
| Market cap | $2.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LUNR | VXZ |
|---|---|---|
| 2022 | +3.7% | +0.5% |
| 2023 | -74.4% | -44.0% |
| 2024 | +610.8% | -12.7% |
| 2025 | -10.6% | +5.7% |
| 2026 | -0.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LUNR and VXZ good diversifiers for each other?
Yes. With a correlation of -0.33, LUNR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LUNR and VXZ?
The LUNR/VXZ correlation stands at -0.33 on a 3-year window (1 year: -0.30, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for LUNR?
Yes. With a correlation of -0.33, LUNR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 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/lunr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lunr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LUNR correlations · VXZ correlations
