RELL vs VXZ: Correlation
Measured on weekly returns over the past three years, Richardson Electronics, Ltd. (RELL) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RELL and VXZ?
On 3 years of weekly data the RELL/VXZ correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.06) than the 3-year average (-0.27). The 5-year figure is -0.31, and annualized covariance runs at -287.5 %².
VXZ is close to the least connected end of RELL's tracked universe, ranking #10 of 11. Correlation aside, the last 12 months split them widely, with RELL ahead by 101.7 points (+85.6% versus -16.1%). One caveat on sizing: RELL 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.
RELL vs VXZ: side by side
| RELL (Richardson Electronics, Ltd.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +85.6% | -16.1% |
| 5-year return | +131.1% | -53.1% |
| Volatility (ann.) | 42.1% | 25.6% |
| Beta vs S&P 500 | 0.78 | -1.31 |
| Max drawdown (3Y) | -45.1% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 40.0 | – |
| Dividend yield | 1.35% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RELL | VXZ |
|---|---|---|
| 2022 | +60.3% | +0.5% |
| 2023 | -36.4% | -44.0% |
| 2024 | +7.4% | -12.7% |
| 2025 | -20.6% | +5.7% |
| 2026 | +67.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RELL and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between RELL and VXZ?
The RELL/VXZ correlation stands at -0.27 on a 3-year window (1 year: -0.06, 5 years: -0.31), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for RELL?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/rell-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rell-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RELL correlations · VXZ correlations
