RDNW vs VXZ: Correlation
RideNow Group, Inc. (RDNW) 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 -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RDNW and VXZ?
Across a 3-year window, the weekly returns of RDNW and VXZ correlate at -0.26, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.05 versus -0.26 over 3 years. Stretching to 5 years gives -0.31, with an annualized covariance of -544.8 %².
VXZ is close to the least connected end of RDNW's tracked universe, ranking #11 of 12. Their recent paths diverged sharply: over the last 12 months RDNW outperformed by 89.1 percentage points (+73.0% for RDNW against -16.1% for VXZ). One caveat on sizing: RDNW is 3.1 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.
RDNW vs VXZ: side by side
| RDNW (RideNow Group, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +73.0% | -16.1% |
| 5-year return | -83.4% | -53.1% |
| Volatility (ann.) | 80.4% | 25.6% |
| Beta vs S&P 500 | 2.03 | -1.31 |
| Max drawdown (3Y) | -82.3% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RDNW | VXZ |
|---|---|---|
| 2022 | -84.4% | +0.5% |
| 2023 | +25.8% | -44.0% |
| 2024 | -33.3% | -12.7% |
| 2025 | +1.7% | +5.7% |
| 2026 | +6.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RDNW and VXZ good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between RDNW and VXZ?
As of 2026-08-27, the correlation of weekly returns between RDNW and VXZ is -0.26 over 3 years, -0.05 over 1 year and -0.31 over 5 years.
Is VXZ a good diversifier for RDNW?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
A reading of -0.26 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/rdnw-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rdnw-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RDNW correlations · VXZ correlations
