PCAR vs VXZ: Correlation
Paccar (PCAR) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PCAR and VXZ?
Over the past 3 years, PCAR and VXZ moved with a correlation of -0.43, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.36 lands near the 3-year figure. Over 5 years the correlation is -0.52, and the annualized covariance of weekly returns is -264.6 %².
Among the 27 assets we track against PCAR, VXZ sits near the bottom by co-movement, at rank #27. The last year tells two different stories: PCAR led by 43.9 percentage points, +27.8% for PCAR against -16.1% for VXZ.
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.
PCAR vs VXZ: side by side
| PCAR (Paccar) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +27.8% | -16.1% |
| 5-year return | +177.9% | -53.1% |
| Volatility (ann.) | 24.1% | 25.6% |
| Beta vs S&P 500 | 0.74 | -1.31 |
| Max drawdown (3Y) | -27.7% | -36.4% |
| Market cap | $66.6B | – |
| P/E (trailing) | 26.6 | – |
| Dividend yield | 1.04% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | PCAR | VXZ |
|---|---|---|
| 2022 | +17.0% | +0.5% |
| 2023 | +55.0% | -44.0% |
| 2024 | +10.8% | -12.7% |
| 2025 | +8.0% | +5.7% |
| 2026 | +16.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PCAR and VXZ good diversifiers for each other?
Yes: at -0.43, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PCAR and VXZ?
Using weekly returns as of 2026-08-27: -0.43 over 3 years, with -0.36 over the last year and -0.52 over 5 years.
Is VXZ a good diversifier for PCAR?
Yes: at -0.43, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.43 mean?
On the −1 to +1 scale, -0.43 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/pcar-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pcar-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PCAR correlations · VXZ correlations
