PH vs VXZ: Correlation
How closely do Parker Hannifin (PH) 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 -0.57, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PH and VXZ?
Over the past 3 years, PH and VXZ moved with a correlation of -0.57, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.35) than the 3-year average (-0.57). Over 5 years the correlation is -0.60, and the annualized covariance of weekly returns is -386.0 %².
Out of 57 assets tracked against PH, VXZ lands near the bottom at #56. The last year tells two different stories: PH led by 48.9 percentage points, +32.8% for PH 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.
PH vs VXZ: side by side
| PH (Parker Hannifin) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +32.8% | -16.1% |
| 5-year return | +256.4% | -53.1% |
| Volatility (ann.) | 26.6% | 25.6% |
| Beta vs S&P 500 | 1.16 | -1.31 |
| Max drawdown (3Y) | -26.8% | -36.4% |
| Market cap | $127.5B | – |
| P/E (trailing) | 36.5 | – |
| Dividend yield | 0.71% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | PH | VXZ |
|---|---|---|
| 2022 | -6.9% | +0.5% |
| 2023 | +60.8% | -44.0% |
| 2024 | +39.6% | -12.7% |
| 2025 | +39.5% | +5.7% |
| 2026 | +15.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PH and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.57 means the two rarely move for the same reasons.
FAQ
What is the correlation between PH and VXZ?
Using weekly returns as of 2026-08-27: -0.57 over 3 years, with -0.35 over the last year and -0.60 over 5 years.
Is VXZ a good diversifier for PH?
By historical standards, yes. A correlation of -0.57 means the two rarely move for the same reasons.
What does a correlation of -0.57 mean?
On the −1 to +1 scale, -0.57 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/ph-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ph-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PH correlations · VXZ correlations
