PVH vs VXZ: Correlation
PVH Corp. (PVH) 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 -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PVH and VXZ?
Over the past 3 years, PVH and VXZ moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.41) runs below the 3-year figure (-0.30). Over 5 years the correlation is -0.42, and the annualized covariance of weekly returns is -338.6 %².
VXZ is close to the least connected end of PVH's tracked universe, ranking #18 of 19. Over the last 12 months PVH came out ahead by 9.5 percentage points (-6.6% against -16.1%). Risk is not evenly split, since PVH carries 1.7 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.
PVH vs VXZ: side by side
| PVH (PVH Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -6.6% | -16.1% |
| 5-year return | -28.0% | -53.1% |
| Volatility (ann.) | 43.7% | 25.6% |
| Beta vs S&P 500 | 1.11 | -1.31 |
| Max drawdown (3Y) | -56.9% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | 23.8 | – |
| Dividend yield | 0.19% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PVH | VXZ |
|---|---|---|
| 2022 | -33.7% | +0.5% |
| 2023 | +73.3% | -44.0% |
| 2024 | -13.3% | -12.7% |
| 2025 | -36.5% | +5.7% |
| 2026 | +13.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PVH and VXZ good diversifiers for each other?
Yes. With a correlation of -0.30, PVH and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PVH and VXZ?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.41 over the last year and -0.42 over 5 years.
Is VXZ a good diversifier for PVH?
Yes. With a correlation of -0.30, PVH and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
A reading of -0.30 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/pvh-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pvh-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PVH correlations · VXZ correlations
