PLAY vs VXZ: Correlation
How closely do Dave & Buster's Entertainment, Inc. (PLAY) 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 -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLAY and VXZ?
Across a 3-year window, the weekly returns of PLAY and VXZ correlate at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.54) than the 3-year average (-0.25). Stretching to 5 years gives -0.33, with an annualized covariance of -402.7 %².
Among the 14 assets we track against PLAY, VXZ sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with VXZ ahead by 47.8 points (-63.9% versus -16.1%). Risk is not evenly split, since PLAY carries 2.5 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.
PLAY vs VXZ: side by side
| PLAY (Dave & Buster's Entertainment, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -63.9% | -16.1% |
| 5-year return | -74.8% | -53.1% |
| Volatility (ann.) | 63.8% | 25.6% |
| Beta vs S&P 500 | 1.25 | -1.31 |
| Max drawdown (3Y) | -86.6% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PLAY | VXZ |
|---|---|---|
| 2022 | -7.7% | +0.5% |
| 2023 | +51.9% | -44.0% |
| 2024 | -45.8% | -12.7% |
| 2025 | -44.5% | +5.7% |
| 2026 | -43.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLAY and VXZ good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PLAY and VXZ?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.54 over the last year and -0.33 over 5 years.
Is VXZ a good diversifier for PLAY?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/play-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/play-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PLAY correlations · VXZ correlations
