PNR vs VXZ: Correlation
How closely do Pentair (PNR) 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 -0.46, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNR and VXZ?
Across a 3-year window, the weekly returns of PNR and VXZ correlate at -0.46, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.29) than the 3-year average (-0.46). Stretching to 5 years gives -0.50, with an annualized covariance of -329.1 %².
Out of 38 assets tracked against PNR, VXZ lands near the bottom at #37. The last year tells two different stories: VXZ led by 26.4 percentage points, -42.5% for PNR 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.
PNR vs VXZ: side by side
| PNR (Pentair) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -42.5% | -16.1% |
| 5-year return | -14.1% | -53.1% |
| Volatility (ann.) | 28.2% | 25.6% |
| Beta vs S&P 500 | 1.07 | -1.31 |
| Max drawdown (3Y) | -45.0% | -36.4% |
| Market cap | $9.9B | – |
| P/E (trailing) | 16.2 | – |
| Dividend yield | 1.65% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | PNR | VXZ |
|---|---|---|
| 2022 | -37.4% | +0.5% |
| 2023 | +64.2% | -44.0% |
| 2024 | +40.0% | -12.7% |
| 2025 | +4.5% | +5.7% |
| 2026 | -39.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNR and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
FAQ
What is the correlation between PNR and VXZ?
Using weekly returns as of 2026-08-27: -0.46 over 3 years, with -0.29 over the last year and -0.50 over 5 years.
Is VXZ a good diversifier for PNR?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
What does a correlation of -0.46 mean?
A reading of -0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pnr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pnr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PNR correlations · VXZ correlations
