PHIN vs VXZ: Correlation
PHINIA Inc. (PHIN) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PHIN and VXZ?
Over the past 3 years, PHIN and VXZ moved with a correlation of -0.46, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.23) than the 3-year average (-0.46). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -392.2 %².
VXZ is close to the least connected end of PHIN's tracked universe, ranking #11 of 12. Correlation aside, the last 12 months split them widely, with PHIN ahead by 33.0 points (+16.9% 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.
PHIN vs VXZ: side by side
| PHIN (PHINIA Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +16.9% | -16.1% |
| 5-year return | n/a | -53.1% |
| Volatility (ann.) | 33.0% | 25.6% |
| Beta vs S&P 500 | 1.01 | -1.31 |
| Max drawdown (3Y) | -32.9% | -36.4% |
| Market cap | $2.5B | – |
| P/E (trailing) | 20.1 | – |
| Dividend yield | 1.63% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PHIN | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | – | -44.0% |
| 2024 | +62.7% | -12.7% |
| 2025 | +33.0% | +5.7% |
| 2026 | +9.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PHIN and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
FAQ
What is the correlation between PHIN and VXZ?
Using weekly returns as of 2026-08-27: -0.46 over 3 years, with -0.23 over the last year and n/a over 5 years.
Is VXZ a good diversifier for PHIN?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
What does a correlation of -0.46 mean?
A reading of -0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/phin-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/phin-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PHIN correlations · VXZ correlations
