PRME vs VXZ: Correlation
How closely do Prime Medicine, Inc. (PRME) 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 -0.41, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRME and VXZ?
Across a 3-year window, the weekly returns of PRME and VXZ correlate at -0.41, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.32 lands near the 3-year figure. Stretching to 5 years gives -0.38, with an annualized covariance of -1046.5 %².
Out of 18 assets tracked against PRME, VXZ lands near the bottom at #17. Their recent paths diverged sharply: over the last 12 months PRME outperformed by 22.2 percentage points (+6.1% for PRME against -16.1% for VXZ). Note the risk asymmetry: PRME runs 3.9 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.
PRME vs VXZ: side by side
| PRME (Prime Medicine, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.1% | -16.1% |
| 5-year return | n/a | -53.1% |
| Volatility (ann.) | 98.7% | 25.6% |
| Beta vs S&P 500 | 2.97 | -1.31 |
| Max drawdown (3Y) | -91.4% | -36.4% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PRME | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | -52.3% | -44.0% |
| 2024 | -67.0% | -12.7% |
| 2025 | +18.8% | +5.7% |
| 2026 | +4.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRME and VXZ good diversifiers for each other?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PRME and VXZ?
The PRME/VXZ correlation stands at -0.41 on a 3-year window (1 year: -0.32, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for PRME?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
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/prme-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/prme-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PRME correlations · VXZ correlations
