OUST vs VXZ: Correlation
Measured on weekly returns over the past three years, Ouster, Inc. (OUST) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OUST and VXZ?
Over the past 3 years, OUST and VXZ moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.34 lands near the 3-year figure. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -802.7 %².
Among the 14 assets we track against OUST, VXZ sits near the bottom by co-movement, at rank #13. Their recent paths diverged sharply: over the last 12 months OUST outperformed by 36.8 percentage points (+20.7% for OUST against -16.1% for VXZ). Note the risk asymmetry: OUST runs 4.0 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.
OUST vs VXZ: side by side
| OUST (Ouster, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +20.7% | -16.1% |
| 5-year return | -56.2% | -53.1% |
| Volatility (ann.) | 102.7% | 25.6% |
| Beta vs S&P 500 | 2.63 | -1.31 |
| Max drawdown (3Y) | -64.0% | -36.4% |
| Market cap | $2.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OUST | VXZ |
|---|---|---|
| 2022 | -83.4% | +0.5% |
| 2023 | -11.1% | -44.0% |
| 2024 | +59.3% | -12.7% |
| 2025 | +77.1% | +5.7% |
| 2026 | +68.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OUST and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between OUST and VXZ?
The OUST/VXZ correlation stands at -0.31 on a 3-year window (1 year: -0.34, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for OUST?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 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/oust-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/oust-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OUST correlations · VXZ correlations
