LXFR vs VXZ: Correlation
Luxfer Holdings PLC (LXFR) 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 -0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LXFR and VXZ?
Across a 3-year window, the weekly returns of LXFR and VXZ correlate at -0.37, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.41 lands near the 3-year figure. Stretching to 5 years gives -0.34, with an annualized covariance of -415.5 %².
VXZ is close to the least connected end of LXFR's tracked universe, ranking #10 of 11. Their recent paths diverged sharply: over the last 12 months LXFR outperformed by 47.7 percentage points (+31.6% for LXFR against -16.1% for VXZ). One caveat on sizing: LXFR is 1.7 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.
LXFR vs VXZ: side by side
| LXFR (Luxfer Holdings PLC) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +31.6% | -16.1% |
| 5-year return | -1.2% | -53.1% |
| Volatility (ann.) | 44.1% | 25.6% |
| Beta vs S&P 500 | 0.97 | -1.31 |
| Max drawdown (3Y) | -42.1% | -36.4% |
| Market cap | $0.5B | – |
| P/E (trailing) | 35.0 | – |
| Dividend yield | 3.03% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LXFR | VXZ |
|---|---|---|
| 2022 | -26.6% | +0.5% |
| 2023 | -32.3% | -44.0% |
| 2024 | +53.9% | -12.7% |
| 2025 | +7.8% | +5.7% |
| 2026 | +30.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LXFR and VXZ good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LXFR and VXZ?
As of 2026-08-27, the correlation of weekly returns between LXFR and VXZ is -0.37 over 3 years, -0.41 over 1 year and -0.34 over 5 years.
Is VXZ a good diversifier for LXFR?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 mean?
On the −1 to +1 scale, -0.37 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/lxfr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lxfr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LXFR correlations · VXZ correlations
