LYTS vs VXZ: Correlation
Measured on weekly returns over the past three years, LSI Industries Inc. (LYTS) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.35, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LYTS and VXZ?
On 3 years of weekly data the LYTS/VXZ correlation comes out at -0.35, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.32) sits close to the 3-year figure. The 5-year figure is -0.25, and annualized covariance runs at -340.5 %².
Out of 12 assets tracked against LYTS, VXZ lands near the bottom at #11. On 12-month performance LYTS holds a 6.1-point edge, -10.0% against -16.1%. Risk is not evenly split, since LYTS carries 1.5 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.
LYTS vs VXZ: side by side
| LYTS (LSI Industries Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -10.0% | -16.1% |
| 5-year return | +167.4% | -53.1% |
| Volatility (ann.) | 38.6% | 25.6% |
| Beta vs S&P 500 | 1.13 | -1.31 |
| Max drawdown (3Y) | -40.6% | -36.4% |
| Market cap | $0.7B | – |
| P/E (trailing) | 30.1 | – |
| Dividend yield | 0.99% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LYTS | VXZ |
|---|---|---|
| 2022 | +82.9% | +0.5% |
| 2023 | +16.8% | -44.0% |
| 2024 | +39.7% | -12.7% |
| 2025 | -4.7% | +5.7% |
| 2026 | +10.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LYTS and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between LYTS and VXZ?
The LYTS/VXZ correlation stands at -0.35 on a 3-year window (1 year: -0.32, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for LYTS?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 mean?
On the −1 to +1 scale, -0.35 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/lyts-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lyts-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LYTS correlations · VXZ correlations
