PR vs VXZ: Correlation
Permian Resources Corporation (PR) 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 -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PR and VXZ?
Over the past 3 years, PR and VXZ moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.30) runs above the 3-year figure (-0.28). Over 5 years the correlation is -0.28, and the annualized covariance of weekly returns is -250.1 %².
Among the 33 assets we track against PR, VXZ sits near the bottom by co-movement, at rank #32. The last year tells two different stories: PR led by 86.4 percentage points, +70.3% for PR 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.
PR vs VXZ: side by side
| PR (Permian Resources Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +70.3% | -16.1% |
| 5-year return | +430.6% | -53.1% |
| Volatility (ann.) | 35.4% | 25.6% |
| Beta vs S&P 500 | 0.39 | -1.31 |
| Max drawdown (3Y) | -39.9% | -36.4% |
| Market cap | $19.4B | – |
| P/E (trailing) | 14.7 | – |
| Dividend yield | 2.73% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PR | VXZ |
|---|---|---|
| 2022 | +57.9% | +0.5% |
| 2023 | +49.4% | -44.0% |
| 2024 | +10.7% | -12.7% |
| 2025 | +1.9% | +5.7% |
| 2026 | +68.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PR and VXZ good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PR and VXZ?
The PR/VXZ correlation stands at -0.28 on a 3-year window (1 year: 0.30, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for PR?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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/pr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PR correlations · VXZ correlations
