ODD vs VXZ: Correlation
ODDITY Tech Ltd. - Class A (ODD) 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 -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ODD and VXZ?
Over the past 3 years, ODD and VXZ moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.32) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -494.5 %².
Out of 12 assets tracked against ODD, VXZ lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months VXZ outperformed by 59.1 percentage points (-75.2% for ODD against -16.1% for VXZ). One caveat on sizing: ODD 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.
ODD vs VXZ: side by side
| ODD (ODDITY Tech Ltd. - Class A) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -75.2% | -16.1% |
| 5-year return | n/a | -53.1% |
| Volatility (ann.) | 75.9% | 25.6% |
| Beta vs S&P 500 | 1.78 | -1.31 |
| Max drawdown (3Y) | -87.3% | -36.4% |
| Market cap | $0.7B | – |
| P/E (trailing) | 18.3 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ODD | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | – | -44.0% |
| 2024 | -9.7% | -12.7% |
| 2025 | -4.4% | +5.7% |
| 2026 | -62.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ODD and VXZ good diversifiers for each other?
Yes. With a correlation of -0.25, ODD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ODD and VXZ?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.32 over the last year and n/a over 5 years.
Is VXZ a good diversifier for ODD?
Yes. With a correlation of -0.25, ODD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/odd-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/odd-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ODD correlations · VXZ correlations
