OZK vs VXZ: Correlation
How closely do Bank OZK (OZK) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.52, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OZK and VXZ?
On 3 years of weekly data the OZK/VXZ correlation comes out at -0.52, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.29) than the 3-year average (-0.52). The 5-year figure is -0.51, and annualized covariance runs at -435.1 %².
VXZ is close to the least connected end of OZK's tracked universe, ranking #13 of 13. Over the last 12 months OZK came out ahead by 12.7 percentage points (-3.4% against -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.
OZK vs VXZ: side by side
| OZK (Bank OZK) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -3.4% | -16.1% |
| 5-year return | +40.0% | -53.1% |
| Volatility (ann.) | 32.8% | 25.6% |
| Beta vs S&P 500 | 0.99 | -1.31 |
| Max drawdown (3Y) | -29.2% | -36.4% |
| Market cap | $5.4B | – |
| P/E (trailing) | 8.2 | – |
| Dividend yield | 3.68% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OZK | VXZ |
|---|---|---|
| 2022 | -11.2% | +0.5% |
| 2023 | +29.1% | -44.0% |
| 2024 | -7.4% | -12.7% |
| 2025 | +7.4% | +5.7% |
| 2026 | +10.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OZK and VXZ good diversifiers for each other?
Yes: at -0.52, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OZK and VXZ?
The OZK/VXZ correlation stands at -0.52 on a 3-year window (1 year: -0.29, 5 years: -0.51), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for OZK?
Yes: at -0.52, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.52 mean?
On the −1 to +1 scale, -0.52 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/ozk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ozk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OZK correlations · VXZ correlations
