OSK vs VXZ: Correlation
Measured on weekly returns over the past three years, Oshkosh Corporation (Holding Company) (OSK) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.48, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OSK and VXZ?
On 3 years of weekly data the OSK/VXZ correlation comes out at -0.48, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.42 over 1 year against -0.48 over 3. The 5-year figure is -0.49, and annualized covariance runs at -451.3 %².
Among the 18 assets we track against OSK, VXZ sits near the bottom by co-movement, at rank #18. Correlation aside, the last 12 months split them widely, with OSK ahead by 27.1 points (+11.0% 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.
OSK vs VXZ: side by side
| OSK (Oshkosh Corporation (Holding Company)) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.0% | -16.1% |
| 5-year return | +47.4% | -53.1% |
| Volatility (ann.) | 37.0% | 25.6% |
| Beta vs S&P 500 | 1.14 | -1.31 |
| Max drawdown (3Y) | -36.7% | -36.4% |
| Market cap | $9.7B | – |
| P/E (trailing) | 18.1 | – |
| Dividend yield | 1.37% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OSK | VXZ |
|---|---|---|
| 2022 | -20.5% | +0.5% |
| 2023 | +25.2% | -44.0% |
| 2024 | -10.8% | -12.7% |
| 2025 | +34.5% | +5.7% |
| 2026 | +26.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OSK and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
FAQ
What is the correlation between OSK and VXZ?
As of 2026-08-27, the correlation of weekly returns between OSK and VXZ is -0.48 over 3 years, -0.42 over 1 year and -0.49 over 5 years.
Is VXZ a good diversifier for OSK?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
What does a correlation of -0.48 mean?
On the −1 to +1 scale, -0.48 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.
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[](https://www.pairbook.io/pair/osk-vs-vxz/)
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Related comparisons
Hubs: OSK correlations · VXZ correlations
