PFS vs VXZ: Correlation
Measured on weekly returns over the past three years, Provident Financial Services, Inc (PFS) 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 PFS and VXZ?
Across a 3-year window, the weekly returns of PFS and VXZ correlate at -0.51, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.31 versus -0.51 over 3 years. Stretching to 5 years gives -0.49, with an annualized covariance of -398.0 %².
Among the 28 assets we track against PFS, VXZ sits near the bottom by co-movement, at rank #28. The last year tells two different stories: PFS led by 40.0 percentage points, +23.9% for PFS 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.
PFS vs VXZ: side by side
| PFS (Provident Financial Services, Inc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +23.9% | -16.1% |
| 5-year return | +37.5% | -53.1% |
| Volatility (ann.) | 30.4% | 25.6% |
| Beta vs S&P 500 | 0.87 | -1.31 |
| Max drawdown (3Y) | -31.3% | -36.4% |
| Market cap | $3.1B | – |
| P/E (trailing) | 9.8 | – |
| Dividend yield | 2.04% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PFS | VXZ |
|---|---|---|
| 2022 | -8.0% | +0.5% |
| 2023 | -10.8% | -44.0% |
| 2024 | +10.7% | -12.7% |
| 2025 | +10.2% | +5.7% |
| 2026 | +23.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFS and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.51 means the two rarely move for the same reasons.
FAQ
What is the correlation between PFS and VXZ?
Using weekly returns as of 2026-08-27: -0.51 over 3 years, with -0.31 over the last year and -0.49 over 5 years.
Is VXZ a good diversifier for PFS?
By historical standards, yes. A correlation of -0.51 means the two rarely move for the same reasons.
What does a correlation of -0.51 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/pfs-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pfs-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PFS correlations · VXZ correlations
