PCVX vs VXZ: Correlation
Measured on weekly returns over the past three years, Vaxcyte, Inc. (PCVX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PCVX and VXZ?
Across a 3-year window, the weekly returns of PCVX and VXZ correlate at -0.30, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.20 over 1 year against -0.30 over 3. Stretching to 5 years gives -0.24, with an annualized covariance of -443.3 %².
Among the 17 assets we track against PCVX, VXZ sits near the bottom by co-movement, at rank #15. The last year tells two different stories: PCVX led by 116.3 percentage points, +100.2% for PCVX against -16.1% for VXZ. Note the risk asymmetry: PCVX runs 2.3 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.
PCVX vs VXZ: side by side
| PCVX (Vaxcyte, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +100.2% | -16.1% |
| 5-year return | +130.8% | -53.1% |
| Volatility (ann.) | 57.9% | 25.6% |
| Beta vs S&P 500 | 1.40 | -1.31 |
| Max drawdown (3Y) | -76.2% | -36.4% |
| Market cap | $9.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PCVX | VXZ |
|---|---|---|
| 2022 | +101.6% | +0.5% |
| 2023 | +31.0% | -44.0% |
| 2024 | +30.4% | -12.7% |
| 2025 | -43.6% | +5.7% |
| 2026 | +32.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PCVX and VXZ good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PCVX and VXZ?
The PCVX/VXZ correlation stands at -0.30 on a 3-year window (1 year: -0.20, 5 years: -0.24), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for PCVX?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 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/pcvx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pcvx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PCVX correlations · VXZ correlations
