PRIM vs VXZ: Correlation
Primoris Services Corporation (PRIM) 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 -0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRIM and VXZ?
On 3 years of weekly data the PRIM/VXZ correlation comes out at -0.41, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.23) runs above the 3-year figure (-0.41). The 5-year figure is -0.45, and annualized covariance runs at -537.5 %².
Among the 20 assets we track against PRIM, VXZ sits near the bottom by co-movement, at rank #19. Correlation aside, the last 12 months split them widely, with VXZ ahead by 18.1 points (-34.2% versus -16.1%). Note the risk asymmetry: PRIM runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PRIM vs VXZ: side by side
| PRIM (Primoris Services Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -34.2% | -16.1% |
| 5-year return | +212.4% | -53.1% |
| Volatility (ann.) | 50.6% | 25.6% |
| Beta vs S&P 500 | 1.49 | -1.31 |
| Max drawdown (3Y) | -63.1% | -36.4% |
| Market cap | $4.2B | – |
| P/E (trailing) | 30.7 | – |
| Dividend yield | 0.41% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PRIM | VXZ |
|---|---|---|
| 2022 | -7.5% | +0.5% |
| 2023 | +52.6% | -44.0% |
| 2024 | +131.1% | -12.7% |
| 2025 | +63.1% | +5.7% |
| 2026 | -37.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRIM and VXZ good diversifiers for each other?
Yes. With a correlation of -0.41, PRIM and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PRIM and VXZ?
Using weekly returns as of 2026-08-27: -0.41 over 3 years, with -0.23 over the last year and -0.45 over 5 years.
Is VXZ a good diversifier for PRIM?
Yes. With a correlation of -0.41, PRIM and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 mean?
A reading of -0.41 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/prim-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/prim-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PRIM correlations · VXZ correlations
