PRGO vs VXZ: Correlation
How closely do Perrigo Company plc (PRGO) 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 -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRGO and VXZ?
On 3 years of weekly data the PRGO/VXZ correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.50 versus -0.26 over 3 years. The 5-year figure is -0.26, and annualized covariance runs at -285.6 %².
Among the 10 assets we track against PRGO, VXZ sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months VXZ outperformed by 20.0 percentage points (-36.1% for PRGO against -16.1% for VXZ). One caveat on sizing: PRGO is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
PRGO vs VXZ: side by side
| PRGO (Perrigo Company plc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -36.1% | -16.1% |
| 5-year return | -56.9% | -53.1% |
| Volatility (ann.) | 43.6% | 25.6% |
| Beta vs S&P 500 | 0.82 | -1.31 |
| Max drawdown (3Y) | -71.6% | -36.4% |
| Market cap | $2.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 7.86% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PRGO | VXZ |
|---|---|---|
| 2022 | -9.8% | +0.5% |
| 2023 | -2.5% | -44.0% |
| 2024 | -16.9% | -12.7% |
| 2025 | -44.0% | +5.7% |
| 2026 | +8.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRGO and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between PRGO and VXZ?
As of 2026-08-27, the correlation of weekly returns between PRGO and VXZ is -0.26 over 3 years, -0.50 over 1 year and -0.26 over 5 years.
Is VXZ a good diversifier for PRGO?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
A reading of -0.26 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/prgo-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/prgo-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PRGO correlations · VXZ correlations
