PLAB vs VXZ: Correlation
Photronics, Inc. (PLAB) 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 -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLAB and VXZ?
On 3 years of weekly data the PLAB/VXZ correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.12 versus -0.31 over 3 years. The 5-year figure is -0.36, and annualized covariance runs at -469.4 %².
VXZ is close to the least connected end of PLAB's tracked universe, ranking #12 of 14. The last year tells two different stories: PLAB led by 42.3 percentage points, +26.2% for PLAB against -16.1% for VXZ. Risk is not evenly split, since PLAB carries 2.3 times the volatility of the other side.
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.
PLAB vs VXZ: side by side
| PLAB (Photronics, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +26.2% | -16.1% |
| 5-year return | +106.4% | -53.1% |
| Volatility (ann.) | 60.0% | 25.6% |
| Beta vs S&P 500 | 1.56 | -1.31 |
| Max drawdown (3Y) | -50.6% | -36.4% |
| Market cap | $1.8B | – |
| P/E (trailing) | 10.8 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PLAB | VXZ |
|---|---|---|
| 2022 | -10.7% | +0.5% |
| 2023 | +86.4% | -44.0% |
| 2024 | -24.9% | -12.7% |
| 2025 | +35.8% | +5.7% |
| 2026 | -5.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLAB and VXZ good diversifiers for each other?
Yes. With a correlation of -0.31, PLAB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PLAB and VXZ?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.12 over the last year and -0.36 over 5 years.
Is VXZ a good diversifier for PLAB?
Yes. With a correlation of -0.31, PLAB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
A reading of -0.31 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/plab-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/plab-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PLAB correlations · VXZ correlations
