OPLN vs VXZ: Correlation
OPENLANE, Inc. (OPLN) 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 -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OPLN and VXZ?
Over the past 3 years, OPLN and VXZ moved with a correlation of -0.42, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.37 over 1 year against -0.42 over 3. Over 5 years the correlation is -0.35, and the annualized covariance of weekly returns is -359.4 %².
Out of 13 assets tracked against OPLN, VXZ lands near the bottom at #13. Correlation aside, the last 12 months split them widely, with OPLN ahead by 38.1 points (+22.0% versus -16.1%).
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.
OPLN vs VXZ: side by side
| OPLN (OPENLANE, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +22.0% | -16.1% |
| 5-year return | +111.4% | -53.1% |
| Volatility (ann.) | 33.5% | 25.6% |
| Beta vs S&P 500 | 1.02 | -1.31 |
| Max drawdown (3Y) | -22.1% | -36.4% |
| Market cap | $4.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OPLN | VXZ |
|---|---|---|
| 2022 | -16.5% | +0.5% |
| 2023 | +13.5% | -44.0% |
| 2024 | +34.0% | -12.7% |
| 2025 | +50.1% | +5.7% |
| 2026 | +19.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OPLN and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
FAQ
What is the correlation between OPLN and VXZ?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with -0.37 over the last year and -0.35 over 5 years.
Is VXZ a good diversifier for OPLN?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
What does a correlation of -0.42 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/opln-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/opln-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OPLN correlations · VXZ correlations
