R vs VXZ: Correlation
How closely do Ryder System, Inc. (R) 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 -0.45, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are R and VXZ?
Over the past 3 years, R and VXZ moved with a correlation of -0.45, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.24 versus -0.45 over 3 years. Over 5 years the correlation is -0.43, and the annualized covariance of weekly returns is -358.6 %².
Out of 21 assets tracked against R, VXZ lands near the bottom at #21. Their recent paths diverged sharply: over the last 12 months R outperformed by 51.0 percentage points (+34.9% for R against -16.1% for VXZ).
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.
R vs VXZ: side by side
| R (Ryder System, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +34.9% | -16.1% |
| 5-year return | +245.8% | -53.1% |
| Volatility (ann.) | 31.1% | 25.6% |
| Beta vs S&P 500 | 1.09 | -1.31 |
| Max drawdown (3Y) | -23.9% | -36.4% |
| Market cap | $9.5B | – |
| P/E (trailing) | 20.3 | – |
| Dividend yield | 1.46% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | R | VXZ |
|---|---|---|
| 2022 | +4.4% | +0.5% |
| 2023 | +41.6% | -44.0% |
| 2024 | +39.5% | -12.7% |
| 2025 | +24.5% | +5.7% |
| 2026 | +31.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are R and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
FAQ
What is the correlation between R and VXZ?
As of 2026-08-27, the correlation of weekly returns between R and VXZ is -0.45 over 3 years, -0.24 over 1 year and -0.43 over 5 years.
Is VXZ a good diversifier for R?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
What does a correlation of -0.45 mean?
A reading of -0.45 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/r-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/r-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: R correlations · VXZ correlations
