PDFS vs VXZ: Correlation
How closely do PDF Solutions, Inc. (PDFS) 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 -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PDFS and VXZ?
Across a 3-year window, the weekly returns of PDFS and VXZ correlate at -0.37, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.23) than the 3-year average (-0.37). Stretching to 5 years gives -0.35, with an annualized covariance of -452.8 %².
Among the 16 assets we track against PDFS, VXZ sits near the bottom by co-movement, at rank #15. Correlation aside, the last 12 months split them widely, with PDFS ahead by 149.7 points (+133.6% versus -16.1%). One caveat on sizing: PDFS is 1.9 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.
PDFS vs VXZ: side by side
| PDFS (PDF Solutions, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +133.6% | -16.1% |
| 5-year return | +105.9% | -53.1% |
| Volatility (ann.) | 47.4% | 25.6% |
| Beta vs S&P 500 | 1.55 | -1.31 |
| Max drawdown (3Y) | -58.5% | -36.4% |
| Market cap | $1.9B | – |
| P/E (trailing) | 177.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PDFS | VXZ |
|---|---|---|
| 2022 | -10.3% | +0.5% |
| 2023 | +12.7% | -44.0% |
| 2024 | -15.7% | -12.7% |
| 2025 | +5.4% | +5.7% |
| 2026 | +61.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PDFS and VXZ good diversifiers for each other?
Yes. With a correlation of -0.37, PDFS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PDFS and VXZ?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with -0.23 over the last year and -0.35 over 5 years.
Is VXZ a good diversifier for PDFS?
Yes. With a correlation of -0.37, PDFS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.37 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/pdfs-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pdfs-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PDFS correlations · VXZ correlations
