OCUL vs VXZ: Correlation
Ocular Therapeutix, Inc. (OCUL) 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 -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OCUL and VXZ?
On 3 years of weekly data the OCUL/VXZ correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.14) than the 3-year average (-0.26). The 5-year figure is -0.26, and annualized covariance runs at -510.3 %².
VXZ is close to the least connected end of OCUL's tracked universe, ranking #17 of 18. Their 12-month results are close: -12.2% for OCUL against -16.1% for VXZ. One caveat on sizing: OCUL is 3.0 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.
OCUL vs VXZ: side by side
| OCUL (Ocular Therapeutix, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -12.2% | -16.1% |
| 5-year return | +0.7% | -53.1% |
| Volatility (ann.) | 77.8% | 25.6% |
| Beta vs S&P 500 | 1.80 | -1.31 |
| Max drawdown (3Y) | -61.6% | -36.4% |
| Market cap | $2.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OCUL | VXZ |
|---|---|---|
| 2022 | -59.7% | +0.5% |
| 2023 | +58.7% | -44.0% |
| 2024 | +91.5% | -12.7% |
| 2025 | +42.2% | +5.7% |
| 2026 | -10.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OCUL and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between OCUL and VXZ?
The OCUL/VXZ correlation stands at -0.26 on a 3-year window (1 year: -0.14, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for OCUL?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 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/ocul-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ocul-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OCUL correlations · VXZ correlations
