PFG vs VXZ: Correlation
How closely do Principal Financial Group (PFG) 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 -0.56, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFG and VXZ?
Over the past 3 years, PFG and VXZ moved with a correlation of -0.56, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.31) runs above the 3-year figure (-0.56). Over 5 years the correlation is -0.57, and the annualized covariance of weekly returns is -326.9 %².
Among the 32 assets we track against PFG, VXZ sits near the bottom by co-movement, at rank #31. The last year tells two different stories: PFG led by 60.0 percentage points, +43.9% for PFG 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.
PFG vs VXZ: side by side
| PFG (Principal Financial Group) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +43.9% | -16.1% |
| 5-year return | +99.7% | -53.1% |
| Volatility (ann.) | 22.9% | 25.6% |
| Beta vs S&P 500 | 0.88 | -1.31 |
| Max drawdown (3Y) | -22.4% | -36.4% |
| Market cap | $24.0B | – |
| P/E (trailing) | 16.0 | – |
| Dividend yield | 2.84% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | PFG | VXZ |
|---|---|---|
| 2022 | +20.1% | +0.5% |
| 2023 | -2.8% | -44.0% |
| 2024 | +1.9% | -12.7% |
| 2025 | +18.4% | +5.7% |
| 2026 | +29.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFG and VXZ good diversifiers for each other?
Yes: at -0.56, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PFG and VXZ?
Using weekly returns as of 2026-08-27: -0.56 over 3 years, with -0.31 over the last year and -0.57 over 5 years.
Is VXZ a good diversifier for PFG?
Yes: at -0.56, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.56 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/pfg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pfg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PFG correlations · VXZ correlations
