RF vs VXZ: Correlation
Measured on weekly returns over the past three years, Regions Financial Corporation (RF) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.56, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RF and VXZ?
On 3 years of weekly data the RF/VXZ correlation comes out at -0.56, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.46 versus -0.56 over 3 years. The 5-year figure is -0.55, and annualized covariance runs at -420.9 %².
Among the 44 assets we track against RF, VXZ sits near the bottom by co-movement, at rank #44. The last year tells two different stories: RF led by 31.5 percentage points, +15.4% for RF against -16.1% for VXZ.
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.
RF vs VXZ: side by side
| RF (Regions Financial Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +15.4% | -16.1% |
| 5-year return | +83.5% | -53.1% |
| Volatility (ann.) | 29.2% | 25.6% |
| Beta vs S&P 500 | 1.09 | -1.31 |
| Max drawdown (3Y) | -31.9% | -36.4% |
| Market cap | $25.9B | – |
| P/E (trailing) | 12.4 | – |
| Dividend yield | 3.45% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | RF | VXZ |
|---|---|---|
| 2022 | +2.3% | +0.5% |
| 2023 | -5.7% | -44.0% |
| 2024 | +27.0% | -12.7% |
| 2025 | +20.2% | +5.7% |
| 2026 | +14.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RF and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.56 means the two rarely move for the same reasons.
FAQ
What is the correlation between RF and VXZ?
The RF/VXZ correlation stands at -0.56 on a 3-year window (1 year: -0.46, 5 years: -0.55), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for RF?
By historical standards, yes. A correlation of -0.56 means the two rarely move for the same reasons.
What does a correlation of -0.56 mean?
A reading of -0.56 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/rf-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rf-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RF correlations · VXZ correlations
