PSX vs VXZ: Correlation
Phillips 66 (PSX) 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 -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PSX and VXZ?
Across a 3-year window, the weekly returns of PSX and VXZ correlate at -0.32, 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 (-0.32). Stretching to 5 years gives -0.28, with an annualized covariance of -270.3 %².
Among the 34 assets we track against PSX, VXZ sits near the bottom by co-movement, at rank #34. Correlation aside, the last 12 months split them widely, with PSX ahead by 102.3 points (+86.2% versus -16.1%).
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.
PSX vs VXZ: side by side
| PSX (Phillips 66) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +86.2% | -16.1% |
| 5-year return | +301.8% | -53.1% |
| Volatility (ann.) | 33.4% | 25.6% |
| Beta vs S&P 500 | 0.58 | -1.31 |
| Max drawdown (3Y) | -44.4% | -36.4% |
| Market cap | $96.1B | – |
| P/E (trailing) | 13.8 | – |
| Dividend yield | 2.04% | – |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | PSX | VXZ |
|---|---|---|
| 2022 | +49.6% | +0.5% |
| 2023 | +33.1% | -44.0% |
| 2024 | -11.6% | -12.7% |
| 2025 | +17.5% | +5.7% |
| 2026 | +89.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PSX and VXZ good diversifiers for each other?
Yes. With a correlation of -0.32, PSX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PSX and VXZ?
As of 2026-08-27, the correlation of weekly returns between PSX and VXZ is -0.32 over 3 years, 0.23 over 1 year and -0.28 over 5 years.
Is VXZ a good diversifier for PSX?
Yes. With a correlation of -0.32, PSX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/psx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/psx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PSX correlations · VXZ correlations
