PNRG vs VXZ: Correlation
PrimeEnergy Resources Corporation (PNRG) 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 -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNRG and VXZ?
Over the past 3 years, PNRG and VXZ moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.12) than the 3-year average (-0.27). Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -382.3 %².
Among the 13 assets we track against PNRG, VXZ sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with PNRG ahead by 53.3 points (+37.2% versus -16.1%). Risk is not evenly split, since PNRG carries 2.1 times the volatility of the other side.
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.
PNRG vs VXZ: side by side
| PNRG (PrimeEnergy Resources Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +37.2% | -16.1% |
| 5-year return | +312.9% | -53.1% |
| Volatility (ann.) | 54.8% | 25.6% |
| Beta vs S&P 500 | 0.69 | -1.31 |
| Max drawdown (3Y) | -44.6% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 20.2 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PNRG | VXZ |
|---|---|---|
| 2022 | +23.9% | +0.5% |
| 2023 | +22.4% | -44.0% |
| 2024 | +106.5% | -12.7% |
| 2025 | -22.1% | +5.7% |
| 2026 | +23.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNRG and VXZ good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PNRG and VXZ?
As of 2026-08-27, the correlation of weekly returns between PNRG and VXZ is -0.27 over 3 years, 0.12 over 1 year and -0.16 over 5 years.
Is VXZ a good diversifier for PNRG?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 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/pnrg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pnrg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PNRG correlations · VXZ correlations
