PLPC vs VXZ: Correlation
Measured on weekly returns over the past three years, Preformed Line Products Company (PLPC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLPC and VXZ?
Over the past 3 years, PLPC and VXZ moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -249.9 %².
VXZ is close to the least connected end of PLPC's tracked universe, ranking #9 of 10. Their recent paths diverged sharply: over the last 12 months PLPC outperformed by 137.5 percentage points (+121.4% for PLPC against -16.1% for VXZ). Note the risk asymmetry: PLPC runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PLPC vs VXZ: side by side
| PLPC (Preformed Line Products Company) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +121.4% | -16.1% |
| 5-year return | +514.6% | -53.1% |
| Volatility (ann.) | 42.3% | 25.6% |
| Beta vs S&P 500 | 0.76 | -1.31 |
| Max drawdown (3Y) | -38.5% | -36.4% |
| Market cap | $2.1B | – |
| P/E (trailing) | 46.4 | – |
| Dividend yield | 0.20% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PLPC | VXZ |
|---|---|---|
| 2022 | +29.9% | +0.5% |
| 2023 | +61.8% | -44.0% |
| 2024 | -3.9% | -12.7% |
| 2025 | +62.6% | +5.7% |
| 2026 | +104.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLPC and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between PLPC and VXZ?
As of 2026-08-27, the correlation of weekly returns between PLPC and VXZ is -0.23 over 3 years, -0.28 over 1 year and -0.25 over 5 years.
Is VXZ a good diversifier for PLPC?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/plpc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/plpc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PLPC correlations · VXZ correlations
