LVS vs VXZ: Correlation
Las Vegas Sands (LVS) 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 -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LVS and VXZ?
On 3 years of weekly data the LVS/VXZ correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.31 over 1 year against -0.25 over 3. The 5-year figure is -0.34, and annualized covariance runs at -221.0 %².
Among the 29 assets we track against LVS, VXZ sits near the bottom by co-movement, at rank #28. Their 12-month results are close: -20.3% for LVS 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.
LVS vs VXZ: side by side
| LVS (Las Vegas Sands) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -20.3% | -16.1% |
| 5-year return | +8.5% | -53.1% |
| Volatility (ann.) | 34.8% | 25.6% |
| Beta vs S&P 500 | 0.75 | -1.31 |
| Max drawdown (3Y) | -44.0% | -36.4% |
| Market cap | $28.7B | – |
| P/E (trailing) | 17.1 | – |
| Dividend yield | 2.49% | – |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | LVS | VXZ |
|---|---|---|
| 2022 | +27.7% | +0.5% |
| 2023 | +3.1% | -44.0% |
| 2024 | +6.2% | -12.7% |
| 2025 | +29.5% | +5.7% |
| 2026 | -30.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LVS and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between LVS and VXZ?
As of 2026-08-27, the correlation of weekly returns between LVS and VXZ is -0.25 over 3 years, -0.31 over 1 year and -0.34 over 5 years.
Is VXZ a good diversifier for LVS?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 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/lvs-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lvs-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LVS correlations · VXZ correlations
