RDW vs VXZ: Correlation
Measured on weekly returns over the past three years, Redwire Corporation (RDW) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RDW and VXZ?
Across a 3-year window, the weekly returns of RDW and VXZ correlate at -0.30, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.28 over 1 year against -0.30 over 3. Stretching to 5 years gives -0.31, with an annualized covariance of -782.1 %².
Out of 13 assets tracked against RDW, VXZ lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months RDW outperformed by 41.5 percentage points (+25.4% for RDW against -16.1% for VXZ). Risk is not evenly split, since RDW carries 4.0 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.
RDW vs VXZ: side by side
| RDW (Redwire Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +25.4% | -16.1% |
| 5-year return | +12.9% | -53.1% |
| Volatility (ann.) | 101.5% | 25.6% |
| Beta vs S&P 500 | 3.01 | -1.31 |
| Max drawdown (3Y) | -80.3% | -36.4% |
| Market cap | $2.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RDW | VXZ |
|---|---|---|
| 2022 | -70.7% | +0.5% |
| 2023 | +43.9% | -44.0% |
| 2024 | +477.5% | -12.7% |
| 2025 | -53.8% | +5.7% |
| 2026 | +48.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RDW and VXZ good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between RDW and VXZ?
As of 2026-08-27, the correlation of weekly returns between RDW and VXZ is -0.30 over 3 years, -0.28 over 1 year and -0.31 over 5 years.
Is VXZ a good diversifier for RDW?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
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/rdw-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rdw-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RDW correlations · VXZ correlations
