QRVO vs VXZ: Correlation
Measured on weekly returns over the past three years, Qorvo, Inc. (QRVO) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.41, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QRVO and VXZ?
Across a 3-year window, the weekly returns of QRVO and VXZ correlate at -0.41, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.24) than the 3-year average (-0.41). Stretching to 5 years gives -0.46, with an annualized covariance of -434.8 %².
Among the 14 assets we track against QRVO, VXZ sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with QRVO ahead by 20.7 points (+4.6% versus -16.1%). Note the risk asymmetry: QRVO runs 1.6 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.
QRVO vs VXZ: side by side
| QRVO (Qorvo, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +4.6% | -16.1% |
| 5-year return | -49.6% | -53.1% |
| Volatility (ann.) | 41.4% | 25.6% |
| Beta vs S&P 500 | 1.53 | -1.31 |
| Max drawdown (3Y) | -60.7% | -36.4% |
| Market cap | $8.5B | – |
| P/E (trailing) | 22.1 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | QRVO | VXZ |
|---|---|---|
| 2022 | -42.0% | +0.5% |
| 2023 | +24.2% | -44.0% |
| 2024 | -37.9% | -12.7% |
| 2025 | +20.8% | +5.7% |
| 2026 | +13.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QRVO and VXZ good diversifiers for each other?
Yes. With a correlation of -0.41, QRVO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QRVO and VXZ?
As of 2026-08-27, the correlation of weekly returns between QRVO and VXZ is -0.41 over 3 years, -0.24 over 1 year and -0.46 over 5 years.
Is VXZ a good diversifier for QRVO?
Yes. With a correlation of -0.41, QRVO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 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/qrvo-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qrvo-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QRVO correlations · VXZ correlations
