PSKY vs VXZ: Correlation
Measured on weekly returns over the past three years, Paramount Skydance Corporation (PSKY) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PSKY and VXZ?
On 3 years of weekly data the PSKY/VXZ correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.38 versus -0.24 over 3 years. The 5-year figure is -0.27, and annualized covariance runs at -336.9 %².
VXZ is close to the least connected end of PSKY's tracked universe, ranking #32 of 32. On 12-month performance VXZ holds a 9.8-point edge, -25.9% against -16.1%. Risk is not evenly split, since PSKY carries 2.1 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.
PSKY vs VXZ: side by side
| PSKY (Paramount Skydance Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -25.9% | -16.1% |
| 5-year return | -69.8% | -53.1% |
| Volatility (ann.) | 54.4% | 25.6% |
| Beta vs S&P 500 | 0.92 | -1.31 |
| Max drawdown (3Y) | -59.9% | -36.4% |
| Market cap | $12.1B | – |
| P/E (trailing) | 360.0 | – |
| Dividend yield | 1.86% | – |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | PSKY | VXZ |
|---|---|---|
| 2022 | -41.8% | +0.5% |
| 2023 | -10.4% | -44.0% |
| 2024 | -28.0% | -12.7% |
| 2025 | +30.0% | +5.7% |
| 2026 | -18.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PSKY and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between PSKY and VXZ?
The PSKY/VXZ correlation stands at -0.24 on a 3-year window (1 year: -0.38, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for PSKY?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 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/psky-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/psky-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PSKY correlations · VXZ correlations
