RCL vs VXZ: Correlation
Measured on weekly returns over the past three years, Royal Caribbean Group (RCL) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.50, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RCL and VXZ?
Across a 3-year window, the weekly returns of RCL and VXZ correlate at -0.50, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.32) than the 3-year average (-0.50). Stretching to 5 years gives -0.50, with an annualized covariance of -528.4 %².
VXZ is close to the least connected end of RCL's tracked universe, ranking #36 of 37. Neither side won the trailing year by much: -19.3% against -16.1%. One caveat on sizing: RCL is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
RCL vs VXZ: side by side
| RCL (Royal Caribbean Group) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -19.3% | -16.1% |
| 5-year return | +257.6% | -53.1% |
| Volatility (ann.) | 41.3% | 25.6% |
| Beta vs S&P 500 | 1.46 | -1.31 |
| Max drawdown (3Y) | -35.0% | -36.4% |
| Market cap | $76.2B | – |
| P/E (trailing) | 17.9 | – |
| Dividend yield | 1.72% | – |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | RCL | VXZ |
|---|---|---|
| 2022 | -35.7% | +0.5% |
| 2023 | +162.0% | -44.0% |
| 2024 | +79.0% | -12.7% |
| 2025 | +22.5% | +5.7% |
| 2026 | +3.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RCL and VXZ good diversifiers for each other?
Yes: at -0.50, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between RCL and VXZ?
The RCL/VXZ correlation stands at -0.50 on a 3-year window (1 year: -0.32, 5 years: -0.50), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for RCL?
Yes: at -0.50, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.50 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/rcl-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rcl-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RCL correlations · VXZ correlations
