ORI vs VXZ: Correlation
Old Republic International Corporation (ORI) 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 -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ORI and VXZ?
Across a 3-year window, the weekly returns of ORI and VXZ correlate at -0.26, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.00 versus -0.26 over 3 years. Stretching to 5 years gives -0.37, with an annualized covariance of -140.7 %².
Among the 26 assets we track against ORI, VXZ sits near the bottom by co-movement, at rank #25. Correlation aside, the last 12 months split them widely, with ORI ahead by 31.1 points (+15.0% 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.
ORI vs VXZ: side by side
| ORI (Old Republic International Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +15.0% | -16.1% |
| 5-year return | +137.4% | -53.1% |
| Volatility (ann.) | 21.1% | 25.6% |
| Beta vs S&P 500 | 0.28 | -1.31 |
| Max drawdown (3Y) | -16.2% | -36.4% |
| Market cap | $10.2B | – |
| P/E (trailing) | 9.3 | – |
| Dividend yield | 2.85% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ORI | VXZ |
|---|---|---|
| 2022 | +6.7% | +0.5% |
| 2023 | +26.3% | -44.0% |
| 2024 | +27.1% | -12.7% |
| 2025 | +37.5% | +5.7% |
| 2026 | -0.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ORI and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between ORI and VXZ?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with 0.00 over the last year and -0.37 over 5 years.
Is VXZ a good diversifier for ORI?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
A reading of -0.26 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/ori-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ori-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ORI correlations · VXZ correlations
