PAC vs VXZ: Correlation
Measured on weekly returns over the past three years, Grupo Aeroportuario Del Pacifico, S.A. B. de C.V. Grupo (PAC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.41, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAC and VXZ?
Over the past 3 years, PAC and VXZ moved with a correlation of -0.41, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.32) sits close to the 3-year figure. Over 5 years the correlation is -0.41, and the annualized covariance of weekly returns is -408.6 %².
Among the 12 assets we track against PAC, VXZ sits near the bottom by co-movement, at rank #12. Their 12-month results are close: -11.6% for PAC against -16.1% for VXZ. One caveat on sizing: PAC is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
PAC vs VXZ: side by side
| PAC (Grupo Aeroportuario Del Pacifico, S.A. B. de C.V. Grupo) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -11.6% | -16.1% |
| 5-year return | +135.8% | -53.1% |
| Volatility (ann.) | 39.2% | 25.6% |
| Beta vs S&P 500 | 1.01 | -1.31 |
| Max drawdown (3Y) | -42.8% | -36.4% |
| Market cap | $12.8B | – |
| P/E (trailing) | 19.7 | – |
| Dividend yield | 9.68% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAC | VXZ |
|---|---|---|
| 2022 | +9.8% | +0.5% |
| 2023 | +28.6% | -44.0% |
| 2024 | +4.2% | -12.7% |
| 2025 | +56.3% | +5.7% |
| 2026 | -18.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAC and VXZ good diversifiers for each other?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PAC and VXZ?
The PAC/VXZ correlation stands at -0.41 on a 3-year window (1 year: -0.32, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for PAC?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.41 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/pac-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pac-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PAC correlations · VXZ correlations
