OSPN vs VXZ: Correlation
Measured on weekly returns over the past three years, OneSpan Inc. (OSPN) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.42, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OSPN and VXZ?
On 3 years of weekly data the OSPN/VXZ correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.40 lands near the 3-year figure. The 5-year figure is -0.39, and annualized covariance runs at -464.1 %².
Out of 19 assets tracked against OSPN, VXZ lands near the bottom at #19. Correlation aside, the last 12 months split them widely, with OSPN ahead by 31.7 points (+15.6% versus -16.1%). Note the risk asymmetry: OSPN runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
OSPN vs VXZ: side by side
| OSPN (OneSpan Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +15.6% | -16.1% |
| 5-year return | -8.3% | -53.1% |
| Volatility (ann.) | 43.6% | 25.6% |
| Beta vs S&P 500 | 1.28 | -1.31 |
| Max drawdown (3Y) | -47.9% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | 9.3 | – |
| Dividend yield | 3.32% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OSPN | VXZ |
|---|---|---|
| 2022 | -33.9% | +0.5% |
| 2023 | -4.2% | -44.0% |
| 2024 | +72.9% | -12.7% |
| 2025 | -28.5% | +5.7% |
| 2026 | +32.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OSPN and VXZ good diversifiers for each other?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OSPN and VXZ?
The OSPN/VXZ correlation stands at -0.42 on a 3-year window (1 year: -0.40, 5 years: -0.39), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for OSPN?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.42 mean?
On the −1 to +1 scale, -0.42 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/ospn-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ospn-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OSPN correlations · VXZ correlations
