OGI vs VXZ: Correlation
Measured on weekly returns over the past three years, Organigram Global Inc. (OGI) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.39, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OGI and VXZ?
On 3 years of weekly data the OGI/VXZ correlation comes out at -0.39, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.39 over 3. The 5-year figure is -0.37, and annualized covariance runs at -649.5 %².
Out of 11 assets tracked against OGI, VXZ lands near the bottom at #11. The trailing year gives VXZ the advantage: -26.3% versus -16.1%, a 10.2-point spread. Risk is not evenly split, since OGI carries 2.5 times the volatility of the other side.
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.
OGI vs VXZ: side by side
| OGI (Organigram Global Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -26.3% | -16.1% |
| 5-year return | -88.1% | -53.1% |
| Volatility (ann.) | 64.6% | 25.6% |
| Beta vs S&P 500 | 1.67 | -1.31 |
| Max drawdown (3Y) | -68.0% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | 2.9 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OGI | VXZ |
|---|---|---|
| 2022 | -54.3% | +0.5% |
| 2023 | -59.1% | -44.0% |
| 2024 | +22.9% | -12.7% |
| 2025 | +4.3% | +5.7% |
| 2026 | -26.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OGI and VXZ good diversifiers for each other?
Yes. With a correlation of -0.39, OGI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between OGI and VXZ?
As of 2026-08-27, the correlation of weekly returns between OGI and VXZ is -0.39 over 3 years, -0.32 over 1 year and -0.37 over 5 years.
Is VXZ a good diversifier for OGI?
Yes. With a correlation of -0.39, OGI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.39 mean?
On the −1 to +1 scale, -0.39 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/ogi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ogi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OGI correlations · VXZ correlations
