NEOG vs VXZ: Correlation
Measured on weekly returns over the past three years, Neogen Corporation (NEOG) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEOG and VXZ?
On 3 years of weekly data the NEOG/VXZ correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.33) sits close to the 3-year figure. The 5-year figure is -0.35, and annualized covariance runs at -465.5 %².
Among the 13 assets we track against NEOG, VXZ sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with NEOG ahead by 120.6 points (+104.5% versus -16.1%). One caveat on sizing: NEOG is 2.3 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.
NEOG vs VXZ: side by side
| NEOG (Neogen Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +104.5% | -16.1% |
| 5-year return | -73.2% | -53.1% |
| Volatility (ann.) | 57.8% | 25.6% |
| Beta vs S&P 500 | 1.11 | -1.31 |
| Max drawdown (3Y) | -81.2% | -36.4% |
| Market cap | $2.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEOG | VXZ |
|---|---|---|
| 2022 | -66.5% | +0.5% |
| 2023 | +32.0% | -44.0% |
| 2024 | -39.6% | -12.7% |
| 2025 | -42.4% | +5.7% |
| 2026 | +68.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEOG and VXZ good diversifiers for each other?
Yes. With a correlation of -0.31, NEOG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NEOG and VXZ?
As of 2026-08-27, the correlation of weekly returns between NEOG and VXZ is -0.31 over 3 years, -0.33 over 1 year and -0.35 over 5 years.
Is VXZ a good diversifier for NEOG?
Yes. With a correlation of -0.31, NEOG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/neog-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/neog-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NEOG correlations · VXZ correlations
