PNFP vs VXZ: Correlation
How closely do Pinnacle Financial Partners, Inc. (PNFP) 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 -0.55, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNFP and VXZ?
Across a 3-year window, the weekly returns of PNFP and VXZ correlate at -0.55, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.50 lands near the 3-year figure. Stretching to 5 years gives -0.53, with an annualized covariance of -494.8 %².
Out of 14 assets tracked against PNFP, VXZ lands near the bottom at #14. The last year tells two different stories: PNFP led by 22.5 percentage points, +6.4% for PNFP 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.
PNFP vs VXZ: side by side
| PNFP (Pinnacle Financial Partners, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.4% | -16.1% |
| 5-year return | +12.0% | -53.1% |
| Volatility (ann.) | 35.3% | 25.6% |
| Beta vs S&P 500 | 1.22 | -1.31 |
| Max drawdown (3Y) | -35.8% | -36.4% |
| Market cap | $15.3B | – |
| P/E (trailing) | 13.9 | – |
| Dividend yield | 1.46% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PNFP | VXZ |
|---|---|---|
| 2022 | -22.3% | +0.5% |
| 2023 | +20.5% | -44.0% |
| 2024 | +32.4% | -12.7% |
| 2025 | -15.8% | +5.7% |
| 2026 | +7.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNFP and VXZ good diversifiers for each other?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PNFP and VXZ?
As of 2026-08-27, the correlation of weekly returns between PNFP and VXZ is -0.55 over 3 years, -0.50 over 1 year and -0.53 over 5 years.
Is VXZ a good diversifier for PNFP?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.55 mean?
On the −1 to +1 scale, -0.55 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/pnfp-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pnfp-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PNFP correlations · VXZ correlations
