REPX vs VXZ: Correlation
Measured on weekly returns over the past three years, Riley Exploration Permian, Inc. (REPX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are REPX and VXZ?
Across a 3-year window, the weekly returns of REPX and VXZ correlate at -0.25, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.26 versus -0.25 over 3 years. Stretching to 5 years gives -0.27, with an annualized covariance of -291.6 %².
VXZ is close to the least connected end of REPX's tracked universe, ranking #10 of 11. Their recent paths diverged sharply: over the last 12 months REPX outperformed by 55.9 percentage points (+39.8% for REPX against -16.1% for VXZ). Note the risk asymmetry: REPX runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
REPX vs VXZ: side by side
| REPX (Riley Exploration Permian, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +39.8% | -16.1% |
| 5-year return | +145.9% | -53.1% |
| Volatility (ann.) | 46.0% | 25.6% |
| Beta vs S&P 500 | 0.58 | -1.31 |
| Max drawdown (3Y) | -38.0% | -36.4% |
| Market cap | $0.8B | – |
| P/E (trailing) | 6.7 | – |
| Dividend yield | 4.27% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | REPX | VXZ |
|---|---|---|
| 2022 | +60.2% | +0.5% |
| 2023 | -3.9% | -44.0% |
| 2024 | +23.8% | -12.7% |
| 2025 | -12.7% | +5.7% |
| 2026 | +50.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are REPX and VXZ good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between REPX and VXZ?
The REPX/VXZ correlation stands at -0.25 on a 3-year window (1 year: 0.26, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for REPX?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/repx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/repx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: REPX correlations · VXZ correlations
