MYFW vs VXZ: Correlation
First Western Financial, Inc. (MYFW) 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 -0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MYFW and VXZ?
Across a 3-year window, the weekly returns of MYFW and VXZ correlate at -0.51, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.43 over 1 year against -0.51 over 3. Stretching to 5 years gives -0.43, with an annualized covariance of -449.7 %².
VXZ is close to the least connected end of MYFW's tracked universe, ranking #12 of 12. Their recent paths diverged sharply: over the last 12 months MYFW outperformed by 49.2 percentage points (+33.1% for MYFW 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.
MYFW vs VXZ: side by side
| MYFW (First Western Financial, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +33.1% | -16.1% |
| 5-year return | +13.7% | -53.1% |
| Volatility (ann.) | 34.7% | 25.6% |
| Beta vs S&P 500 | 1.08 | -1.31 |
| Max drawdown (3Y) | -37.4% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 16.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MYFW | VXZ |
|---|---|---|
| 2022 | -7.3% | +0.5% |
| 2023 | -29.6% | -44.0% |
| 2024 | -1.4% | -12.7% |
| 2025 | +37.1% | +5.7% |
| 2026 | +15.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MYFW and VXZ good diversifiers for each other?
Yes. With a correlation of -0.51, MYFW and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MYFW and VXZ?
Using weekly returns as of 2026-08-27: -0.51 over 3 years, with -0.43 over the last year and -0.43 over 5 years.
Is VXZ a good diversifier for MYFW?
Yes. With a correlation of -0.51, MYFW and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.51 mean?
On the −1 to +1 scale, -0.51 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/myfw-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/myfw-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MYFW correlations · VXZ correlations
