RGA vs VXZ: Correlation
Measured on weekly returns over the past three years, Reinsurance Group of America, Incorporated (RGA) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.49, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RGA and VXZ?
Across a 3-year window, the weekly returns of RGA and VXZ correlate at -0.49, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.25) than the 3-year average (-0.49). Stretching to 5 years gives -0.45, with an annualized covariance of -286.2 %².
Out of 14 assets tracked against RGA, VXZ lands near the bottom at #14. Correlation aside, the last 12 months split them widely, with RGA ahead by 45.1 points (+29.0% versus -16.1%).
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.
RGA vs VXZ: side by side
| RGA (Reinsurance Group of America, Incorporated) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +29.0% | -16.1% |
| 5-year return | +136.6% | -53.1% |
| Volatility (ann.) | 23.0% | 25.6% |
| Beta vs S&P 500 | 0.60 | -1.31 |
| Max drawdown (3Y) | -27.1% | -36.4% |
| Market cap | $16.1B | – |
| P/E (trailing) | 10.9 | – |
| Dividend yield | 1.51% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RGA | VXZ |
|---|---|---|
| 2022 | +33.0% | +0.5% |
| 2023 | +16.4% | -44.0% |
| 2024 | +34.4% | -12.7% |
| 2025 | -3.0% | +5.7% |
| 2026 | +22.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RGA and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.49 means the two rarely move for the same reasons.
FAQ
What is the correlation between RGA and VXZ?
The RGA/VXZ correlation stands at -0.49 on a 3-year window (1 year: -0.25, 5 years: -0.45), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for RGA?
By historical standards, yes. A correlation of -0.49 means the two rarely move for the same reasons.
What does a correlation of -0.49 mean?
On the −1 to +1 scale, -0.49 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/rga-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rga-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RGA correlations · VXZ correlations
