PCB vs VXZ: Correlation
How closely do PCB Bancorp (PCB) 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 -0.45, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PCB and VXZ?
On 3 years of weekly data the PCB/VXZ correlation comes out at -0.45, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.35) runs above the 3-year figure (-0.45). The 5-year figure is -0.42, and annualized covariance runs at -303.1 %².
Among the 20 assets we track against PCB, VXZ sits near the bottom by co-movement, at rank #19. The last year tells two different stories: PCB led by 45.2 percentage points, +29.1% for PCB 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.
PCB vs VXZ: side by side
| PCB (PCB Bancorp) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +29.1% | -16.1% |
| 5-year return | +74.8% | -53.1% |
| Volatility (ann.) | 26.3% | 25.6% |
| Beta vs S&P 500 | 0.69 | -1.31 |
| Max drawdown (3Y) | -22.8% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | 9.5 | – |
| Dividend yield | 3.04% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PCB | VXZ |
|---|---|---|
| 2022 | -17.0% | +0.5% |
| 2023 | +8.9% | -44.0% |
| 2024 | +14.6% | -12.7% |
| 2025 | +11.2% | +5.7% |
| 2026 | +30.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PCB and VXZ good diversifiers for each other?
Yes. With a correlation of -0.45, PCB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PCB and VXZ?
The PCB/VXZ correlation stands at -0.45 on a 3-year window (1 year: -0.35, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for PCB?
Yes. With a correlation of -0.45, PCB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.45 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/pcb-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pcb-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PCB correlations · VXZ correlations
