PGC vs VXZ: Correlation
Measured on weekly returns over the past three years, Peapack-Gl (PGC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.44, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PGC and VXZ?
Across a 3-year window, the weekly returns of PGC and VXZ correlate at -0.44, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.29) runs above the 3-year figure (-0.44). Stretching to 5 years gives -0.42, with an annualized covariance of -390.4 %².
VXZ is close to the least connected end of PGC's tracked universe, ranking #12 of 12. The last year tells two different stories: PGC led by 73.8 percentage points, +57.7% for PGC 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.
PGC vs VXZ: side by side
| PGC (Peapack-Gl) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +57.7% | -16.1% |
| 5-year return | +41.8% | -53.1% |
| Volatility (ann.) | 34.4% | 25.6% |
| Beta vs S&P 500 | 0.88 | -1.31 |
| Max drawdown (3Y) | -34.2% | -36.4% |
| Market cap | $0.8B | – |
| P/E (trailing) | 15.7 | – |
| Dividend yield | 0.44% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PGC | VXZ |
|---|---|---|
| 2022 | +5.7% | +0.5% |
| 2023 | -19.3% | -44.0% |
| 2024 | +8.3% | -12.7% |
| 2025 | -12.5% | +5.7% |
| 2026 | +62.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PGC and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between PGC and VXZ?
The PGC/VXZ correlation stands at -0.44 on a 3-year window (1 year: -0.29, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for PGC?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 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/pgc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pgc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PGC correlations · VXZ correlations
