OCFC vs VXZ: Correlation
How closely do OceanFirst Financial Corp. (OCFC) 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 -0.54, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OCFC and VXZ?
On 3 years of weekly data the OCFC/VXZ correlation comes out at -0.54, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.35) than the 3-year average (-0.54). The 5-year figure is -0.50, and annualized covariance runs at -436.5 %².
VXZ is close to the least connected end of OCFC's tracked universe, ranking #13 of 13. Correlation aside, the last 12 months split them widely, with OCFC ahead by 22.5 points (+6.4% versus -16.1%).
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.
OCFC vs VXZ: side by side
| OCFC (OceanFirst Financial Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.4% | -16.1% |
| 5-year return | +10.9% | -53.1% |
| Volatility (ann.) | 31.8% | 25.6% |
| Beta vs S&P 500 | 1.04 | -1.31 |
| Max drawdown (3Y) | -29.8% | -36.4% |
| Market cap | $1.8B | – |
| P/E (trailing) | 23.6 | – |
| Dividend yield | 4.21% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OCFC | VXZ |
|---|---|---|
| 2022 | -0.9% | +0.5% |
| 2023 | -14.2% | -44.0% |
| 2024 | +9.4% | -12.7% |
| 2025 | +3.9% | +5.7% |
| 2026 | +8.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OCFC and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.54 means the two rarely move for the same reasons.
FAQ
What is the correlation between OCFC and VXZ?
The OCFC/VXZ correlation stands at -0.54 on a 3-year window (1 year: -0.35, 5 years: -0.50), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for OCFC?
By historical standards, yes. A correlation of -0.54 means the two rarely move for the same reasons.
What does a correlation of -0.54 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ocfc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ocfc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OCFC correlations · VXZ correlations
