NEO vs VXZ: Correlation
How closely do NeoGenomics, Inc. (NEO) 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 -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEO and VXZ?
Across a 3-year window, the weekly returns of NEO and VXZ correlate at -0.25, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.41 versus -0.25 over 3 years. Stretching to 5 years gives -0.27, with an annualized covariance of -386.9 %².
Among the 11 assets we track against NEO, VXZ sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with NEO ahead by 179.4 points (+163.3% versus -16.1%). Note the risk asymmetry: NEO runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NEO vs VXZ: side by side
| NEO (NeoGenomics, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +163.3% | -16.1% |
| 5-year return | -62.1% | -53.1% |
| Volatility (ann.) | 59.7% | 25.6% |
| Beta vs S&P 500 | 1.17 | -1.31 |
| Max drawdown (3Y) | -76.7% | -36.4% |
| Market cap | $2.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEO | VXZ |
|---|---|---|
| 2022 | -72.9% | +0.5% |
| 2023 | +75.1% | -44.0% |
| 2024 | +1.9% | -12.7% |
| 2025 | -28.6% | +5.7% |
| 2026 | +58.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEO and VXZ good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NEO and VXZ?
The NEO/VXZ correlation stands at -0.25 on a 3-year window (1 year: -0.41, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for NEO?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
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/neo-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/neo-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NEO correlations · VXZ correlations
