PDT vs VXZ: Correlation
John Hancock Premium Dividend Fund (PDT) 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 -0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PDT and VXZ?
On 3 years of weekly data the PDT/VXZ correlation comes out at -0.50, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.44 over 1 year against -0.50 over 3. The 5-year figure is -0.45, and annualized covariance runs at -204.5 %².
Out of 12 assets tracked against PDT, VXZ lands near the bottom at #12. The last year tells two different stories: PDT led by 17.4 percentage points, +1.3% for PDT against -16.1% for VXZ. Note the risk asymmetry: VXZ runs 1.6 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.
PDT vs VXZ: side by side
| PDT (John Hancock Premium Dividend Fund) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +1.3% | -16.1% |
| 5-year return | +12.6% | -53.1% |
| Volatility (ann.) | 15.8% | 25.6% |
| Beta vs S&P 500 | 0.52 | -1.31 |
| Max drawdown (3Y) | -11.8% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | 4.9 | – |
| Dividend yield | 7.83% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PDT | VXZ |
|---|---|---|
| 2022 | -16.3% | +0.5% |
| 2023 | -9.5% | -44.0% |
| 2024 | +30.0% | -12.7% |
| 2025 | +7.7% | +5.7% |
| 2026 | +4.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PDT and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.50 means the two rarely move for the same reasons.
FAQ
What is the correlation between PDT and VXZ?
As of 2026-08-27, the correlation of weekly returns between PDT and VXZ is -0.50 over 3 years, -0.44 over 1 year and -0.45 over 5 years.
Is VXZ a good diversifier for PDT?
By historical standards, yes. A correlation of -0.50 means the two rarely move for the same reasons.
What does a correlation of -0.50 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/pdt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pdt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PDT correlations · VXZ correlations
