OLED vs VXZ: Correlation
Universal Display Corporation (OLED) 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 -0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OLED and VXZ?
Over the past 3 years, OLED and VXZ moved with a correlation of -0.48, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.28) runs above the 3-year figure (-0.48). Over 5 years the correlation is -0.47, and the annualized covariance of weekly returns is -502.2 %².
VXZ is close to the least connected end of OLED's tracked universe, ranking #9 of 10. Correlation aside, the last 12 months split them widely, with VXZ ahead by 22.7 points (-38.8% versus -16.1%). Risk is not evenly split, since OLED carries 1.6 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.
OLED vs VXZ: side by side
| OLED (Universal Display Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -38.8% | -16.1% |
| 5-year return | -57.1% | -53.1% |
| Volatility (ann.) | 40.6% | 25.6% |
| Beta vs S&P 500 | 1.51 | -1.31 |
| Max drawdown (3Y) | -66.1% | -36.4% |
| Market cap | $3.9B | – |
| P/E (trailing) | 20.5 | – |
| Dividend yield | 2.19% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OLED | VXZ |
|---|---|---|
| 2022 | -33.9% | +0.5% |
| 2023 | +78.6% | -44.0% |
| 2024 | -22.9% | -12.7% |
| 2025 | -19.1% | +5.7% |
| 2026 | -26.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OLED and VXZ good diversifiers for each other?
Yes: at -0.48, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OLED and VXZ?
Using weekly returns as of 2026-08-27: -0.48 over 3 years, with -0.28 over the last year and -0.47 over 5 years.
Is VXZ a good diversifier for OLED?
Yes: at -0.48, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.48 mean?
A reading of -0.48 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/oled-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/oled-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OLED correlations · VXZ correlations
