PMTS vs VXZ: Correlation
Measured on weekly returns over the past three years, CPI Card Group Inc. (PMTS) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.39, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PMTS and VXZ?
On 3 years of weekly data the PMTS/VXZ correlation comes out at -0.39, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.28) runs above the 3-year figure (-0.39). The 5-year figure is -0.28, and annualized covariance runs at -650.6 %².
Among the 12 assets we track against PMTS, VXZ sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months PMTS outperformed by 102.6 percentage points (+86.5% for PMTS against -16.1% for VXZ). Note the risk asymmetry: PMTS runs 2.6 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.
PMTS vs VXZ: side by side
| PMTS (CPI Card Group Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +86.5% | -16.1% |
| 5-year return | +3.4% | -53.1% |
| Volatility (ann.) | 65.4% | 25.6% |
| Beta vs S&P 500 | 1.51 | -1.31 |
| Max drawdown (3Y) | -67.1% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 25.2 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PMTS | VXZ |
|---|---|---|
| 2022 | +94.5% | +0.5% |
| 2023 | -46.8% | -44.0% |
| 2024 | +55.8% | -12.7% |
| 2025 | -50.9% | +5.7% |
| 2026 | +97.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PMTS and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
FAQ
What is the correlation between PMTS and VXZ?
The PMTS/VXZ correlation stands at -0.39 on a 3-year window (1 year: -0.28, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for PMTS?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
What does a correlation of -0.39 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pmts-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pmts-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PMTS correlations · VXZ correlations
