PNC vs VXZ: Correlation
PNC Financial Services (PNC) 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 -0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNC and VXZ?
On 3 years of weekly data the PNC/VXZ correlation comes out at -0.60, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.46) runs above the 3-year figure (-0.60). The 5-year figure is -0.55, and annualized covariance runs at -391.9 %².
Among the 47 assets we track against PNC, VXZ sits near the bottom by co-movement, at rank #47. The last year tells two different stories: PNC led by 38.2 percentage points, +22.1% for PNC against -16.1% for VXZ.
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.
PNC vs VXZ: side by side
| PNC (PNC Financial Services) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +22.1% | -16.1% |
| 5-year return | +53.5% | -53.1% |
| Volatility (ann.) | 25.6% | 25.6% |
| Beta vs S&P 500 | 0.92 | -1.31 |
| Max drawdown (3Y) | -29.8% | -36.4% |
| Market cap | $97.1B | – |
| P/E (trailing) | 13.5 | – |
| Dividend yield | 2.78% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | PNC | VXZ |
|---|---|---|
| 2022 | -18.6% | +0.5% |
| 2023 | +2.7% | -44.0% |
| 2024 | +29.4% | -12.7% |
| 2025 | +12.2% | +5.7% |
| 2026 | +19.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNC and VXZ good diversifiers for each other?
Yes: at -0.60, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PNC and VXZ?
As of 2026-08-27, the correlation of weekly returns between PNC and VXZ is -0.60 over 3 years, -0.46 over 1 year and -0.55 over 5 years.
Is VXZ a good diversifier for PNC?
Yes: at -0.60, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.60 mean?
On the −1 to +1 scale, -0.60 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/pnc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pnc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PNC correlations · VXZ correlations
