PFIS vs VXZ: Correlation
Measured on weekly returns over the past three years, Peoples Financial Services Corp. (PFIS) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.42, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFIS and VXZ?
On 3 years of weekly data the PFIS/VXZ correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.42 over 3. The 5-year figure is -0.38, and annualized covariance runs at -325.4 %².
Among the 16 assets we track against PFIS, VXZ sits near the bottom by co-movement, at rank #16. Correlation aside, the last 12 months split them widely, with PFIS ahead by 51.6 points (+35.5% versus -16.1%).
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.
PFIS vs VXZ: side by side
| PFIS (Peoples Financial Services Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +35.5% | -16.1% |
| 5-year return | +82.0% | -53.1% |
| Volatility (ann.) | 30.5% | 25.6% |
| Beta vs S&P 500 | 0.66 | -1.31 |
| Max drawdown (3Y) | -29.1% | -36.4% |
| Market cap | $0.7B | – |
| P/E (trailing) | 12.3 | – |
| Dividend yield | 3.56% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PFIS | VXZ |
|---|---|---|
| 2022 | +1.5% | +0.5% |
| 2023 | -2.5% | -44.0% |
| 2024 | +9.9% | -12.7% |
| 2025 | +0.0% | +5.7% |
| 2026 | +45.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFIS and VXZ good diversifiers for each other?
Yes. With a correlation of -0.42, PFIS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PFIS and VXZ?
As of 2026-08-27, the correlation of weekly returns between PFIS and VXZ is -0.42 over 3 years, -0.32 over 1 year and -0.38 over 5 years.
Is VXZ a good diversifier for PFIS?
Yes. With a correlation of -0.42, PFIS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.42 mean?
On the −1 to +1 scale, -0.42 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pfis-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pfis-vs-vxz/)
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Related comparisons
Hubs: PFIS correlations · VXZ correlations
