OMC vs VXZ: Correlation
Omnicom Group (OMC) 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 -0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OMC and VXZ?
Across a 3-year window, the weekly returns of OMC and VXZ correlate at -0.35, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.16) than the 3-year average (-0.35). Stretching to 5 years gives -0.38, with an annualized covariance of -251.8 %².
Among the 36 assets we track against OMC, VXZ sits near the bottom by co-movement, at rank #36. Their recent paths diverged sharply: over the last 12 months OMC outperformed by 32.6 percentage points (+16.5% for OMC against -16.1% for VXZ).
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.
OMC vs VXZ: side by side
| OMC (Omnicom Group) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +16.5% | -16.1% |
| 5-year return | +45.6% | -53.1% |
| Volatility (ann.) | 28.0% | 25.6% |
| Beta vs S&P 500 | 0.76 | -1.31 |
| Max drawdown (3Y) | -33.3% | -36.4% |
| Market cap | $24.1B | – |
| P/E (trailing) | 237.5 | – |
| Dividend yield | 3.53% | – |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | OMC | VXZ |
|---|---|---|
| 2022 | +15.7% | +0.5% |
| 2023 | +9.6% | -44.0% |
| 2024 | +2.5% | -12.7% |
| 2025 | -2.6% | +5.7% |
| 2026 | +11.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OMC and VXZ good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OMC and VXZ?
Using weekly returns as of 2026-08-27: -0.35 over 3 years, with -0.16 over the last year and -0.38 over 5 years.
Is VXZ a good diversifier for OMC?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 mean?
On the −1 to +1 scale, -0.35 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/omc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/omc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OMC correlations · VXZ correlations
