PENG vs VXZ: Correlation
How closely do Penguin Solutions, Inc. (PENG) 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 -0.39, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PENG and VXZ?
Across a 3-year window, the weekly returns of PENG and VXZ correlate at -0.39, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.37 lands near the 3-year figure. Stretching to 5 years gives -0.40, with an annualized covariance of -705.2 %².
VXZ is close to the least connected end of PENG's tracked universe, ranking #8 of 10. Correlation aside, the last 12 months split them widely, with PENG ahead by 132.3 points (+116.2% versus -16.1%). Risk is not evenly split, since PENG carries 2.8 times the volatility of the other side.
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.
PENG vs VXZ: side by side
| PENG (Penguin Solutions, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +116.2% | -16.1% |
| 5-year return | +118.5% | -53.1% |
| Volatility (ann.) | 71.5% | 25.6% |
| Beta vs S&P 500 | 2.57 | -1.31 |
| Max drawdown (3Y) | -50.5% | -36.4% |
| Market cap | $2.7B | – |
| P/E (trailing) | 37.2 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PENG | VXZ |
|---|---|---|
| 2022 | -58.1% | +0.5% |
| 2023 | +27.2% | -44.0% |
| 2024 | +1.4% | -12.7% |
| 2025 | +1.9% | +5.7% |
| 2026 | +168.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PENG and VXZ good diversifiers for each other?
Yes. With a correlation of -0.39, PENG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PENG and VXZ?
As of 2026-08-27, the correlation of weekly returns between PENG and VXZ is -0.39 over 3 years, -0.37 over 1 year and -0.40 over 5 years.
Is VXZ a good diversifier for PENG?
Yes. With a correlation of -0.39, PENG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.39 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/peng-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/peng-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PENG correlations · VXZ correlations
