ONT vs VXZ: Correlation
How closely do Onterris, Inc. (ONT) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ONT and VXZ?
Across a 3-year window, the weekly returns of ONT and VXZ correlate at -0.29, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Stretching to 5 years gives -0.31, with an annualized covariance of -471.0 %².
Out of 13 assets tracked against ONT, VXZ lands near the bottom at #12. The last year tells two different stories: VXZ led by 29.5 percentage points, -45.6% for ONT against -16.1% for VXZ. One caveat on sizing: ONT is 2.5 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.
ONT vs VXZ: side by side
| ONT (Onterris, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -45.6% | -16.1% |
| 5-year return | -66.3% | -53.1% |
| Volatility (ann.) | 63.4% | 25.6% |
| Beta vs S&P 500 | 1.17 | -1.31 |
| Max drawdown (3Y) | -78.4% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ONT | VXZ |
|---|---|---|
| 2022 | -37.0% | +0.5% |
| 2023 | -27.6% | -44.0% |
| 2024 | -42.3% | -12.7% |
| 2025 | +33.9% | +5.7% |
| 2026 | -34.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ONT and VXZ good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ONT and VXZ?
As of 2026-08-27, the correlation of weekly returns between ONT and VXZ is -0.29 over 3 years, -0.23 over 1 year and -0.31 over 5 years.
Is VXZ a good diversifier for ONT?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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/ont-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ont-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ONT correlations · VXZ correlations
