POWL vs VXZ: Correlation
Measured on weekly returns over the past three years, Powell Industries, Inc. (POWL) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are POWL and VXZ?
Over the past 3 years, POWL and VXZ moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.27) sits close to the 3-year figure. Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -521.7 %².
Among the 11 assets we track against POWL, VXZ sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with POWL ahead by 127.1 points (+111.0% versus -16.1%). Risk is not evenly split, since POWL carries 2.8 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.
POWL vs VXZ: side by side
| POWL (Powell Industries, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +111.0% | -16.1% |
| 5-year return | +2360.3% | -53.1% |
| Volatility (ann.) | 71.5% | 25.6% |
| Beta vs S&P 500 | 1.95 | -1.31 |
| Max drawdown (3Y) | -55.8% | -36.4% |
| Market cap | $7.0B | – |
| P/E (trailing) | 36.8 | – |
| Dividend yield | 0.19% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | POWL | VXZ |
|---|---|---|
| 2022 | +24.3% | +0.5% |
| 2023 | +155.6% | -44.0% |
| 2024 | +152.2% | -12.7% |
| 2025 | +44.5% | +5.7% |
| 2026 | +81.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are POWL and VXZ good diversifiers for each other?
Yes. With a correlation of -0.29, POWL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between POWL and VXZ?
As of 2026-08-27, the correlation of weekly returns between POWL and VXZ is -0.29 over 3 years, -0.27 over 1 year and -0.26 over 5 years.
Is VXZ a good diversifier for POWL?
Yes. With a correlation of -0.29, POWL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
A reading of -0.29 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/powl-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/powl-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: POWL correlations · VXZ correlations
