LYEL vs VXZ: Correlation
Measured on weekly returns over the past three years, Lyell Immunopharma, Inc. (LYEL) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LYEL and VXZ?
On 3 years of weekly data the LYEL/VXZ correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.30 over 1 year against -0.25 over 3. The 5-year figure is -0.21, and annualized covariance runs at -637.2 %².
VXZ is close to the least connected end of LYEL's tracked universe, ranking #12 of 13. Correlation aside, the last 12 months split them widely, with LYEL ahead by 45.6 points (+29.5% versus -16.1%). One caveat on sizing: LYEL is 3.9 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.
LYEL vs VXZ: side by side
| LYEL (Lyell Immunopharma, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +29.5% | -16.1% |
| 5-year return | -95.4% | -53.1% |
| Volatility (ann.) | 99.9% | 25.6% |
| Beta vs S&P 500 | 2.09 | -1.31 |
| Max drawdown (3Y) | -87.3% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LYEL | VXZ |
|---|---|---|
| 2022 | -55.2% | +0.5% |
| 2023 | -44.1% | -44.0% |
| 2024 | -67.0% | -12.7% |
| 2025 | +140.5% | +5.7% |
| 2026 | -52.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LYEL and VXZ good diversifiers for each other?
Yes. With a correlation of -0.25, LYEL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LYEL and VXZ?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.30 over the last year and -0.21 over 5 years.
Is VXZ a good diversifier for LYEL?
Yes. With a correlation of -0.25, LYEL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/lyel-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lyel-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LYEL correlations · VXZ correlations
