PEBO vs VXZ: Correlation
Measured on weekly returns over the past three years, Peoples Bancorp Inc. (PEBO) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.51, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PEBO and VXZ?
On 3 years of weekly data the PEBO/VXZ correlation comes out at -0.51, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.33) runs above the 3-year figure (-0.51). The 5-year figure is -0.48, and annualized covariance runs at -328.4 %².
Among the 26 assets we track against PEBO, VXZ sits near the bottom by co-movement, at rank #26. Their recent paths diverged sharply: over the last 12 months PEBO outperformed by 49.7 percentage points (+33.6% for PEBO 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.
PEBO vs VXZ: side by side
| PEBO (Peoples Bancorp Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +33.6% | -16.1% |
| 5-year return | +66.3% | -53.1% |
| Volatility (ann.) | 25.1% | 25.6% |
| Beta vs S&P 500 | 0.69 | -1.31 |
| Max drawdown (3Y) | -24.5% | -36.4% |
| Market cap | $1.4B | – |
| P/E (trailing) | 12.0 | – |
| Dividend yield | 4.18% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PEBO | VXZ |
|---|---|---|
| 2022 | -6.6% | +0.5% |
| 2023 | +26.5% | -44.0% |
| 2024 | -1.0% | -12.7% |
| 2025 | +0.1% | +5.7% |
| 2026 | +36.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PEBO and VXZ good diversifiers for each other?
Yes. With a correlation of -0.51, PEBO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PEBO and VXZ?
As of 2026-08-27, the correlation of weekly returns between PEBO and VXZ is -0.51 over 3 years, -0.33 over 1 year and -0.48 over 5 years.
Is VXZ a good diversifier for PEBO?
Yes. With a correlation of -0.51, PEBO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.51 mean?
A reading of -0.51 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pebo-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pebo-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PEBO correlations · VXZ correlations
