LYB vs VXZ: Correlation
How closely do LyondellBasell (LYB) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LYB and VXZ?
Over the past 3 years, LYB and VXZ moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.27 versus -0.20 over 3 years. Over 5 years the correlation is -0.28, and the annualized covariance of weekly returns is -169.1 %².
Out of 36 assets tracked against LYB, VXZ lands near the bottom at #35. Their recent paths diverged sharply: over the last 12 months LYB outperformed by 35.2 percentage points (+19.1% for LYB 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.
LYB vs VXZ: side by side
| LYB (LyondellBasell) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +19.1% | -16.1% |
| 5-year return | -12.8% | -53.1% |
| Volatility (ann.) | 33.7% | 25.6% |
| Beta vs S&P 500 | 0.42 | -1.31 |
| Max drawdown (3Y) | -55.4% | -36.4% |
| Market cap | $20.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 6.58% | – |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | LYB | VXZ |
|---|---|---|
| 2022 | -1.0% | +0.5% |
| 2023 | +20.7% | -44.0% |
| 2024 | -17.4% | -12.7% |
| 2025 | -36.0% | +5.7% |
| 2026 | +50.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LYB and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between LYB and VXZ?
The LYB/VXZ correlation stands at -0.20 on a 3-year window (1 year: 0.27, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for LYB?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
A reading of -0.20 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/lyb-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lyb-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LYB correlations · VXZ correlations
