RH vs VXZ: Correlation
RH (RH) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RH and VXZ?
Across a 3-year window, the weekly returns of RH and VXZ correlate at -0.48, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.32) than the 3-year average (-0.48). Stretching to 5 years gives -0.50, with an annualized covariance of -831.5 %².
VXZ is close to the least connected end of RH's tracked universe, ranking #16 of 16. Correlation aside, the last 12 months split them widely, with VXZ ahead by 20.4 points (-36.5% versus -16.1%). Note the risk asymmetry: RH runs 2.6 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.
RH vs VXZ: side by side
| RH (RH) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -36.5% | -16.1% |
| 5-year return | -79.8% | -53.1% |
| Volatility (ann.) | 67.4% | 25.6% |
| Beta vs S&P 500 | 2.60 | -1.31 |
| Max drawdown (3Y) | -75.2% | -36.4% |
| Market cap | $2.7B | – |
| P/E (trailing) | 28.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RH | VXZ |
|---|---|---|
| 2022 | -50.1% | +0.5% |
| 2023 | +9.1% | -44.0% |
| 2024 | +35.0% | -12.7% |
| 2025 | -54.5% | +5.7% |
| 2026 | -19.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RH and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
FAQ
What is the correlation between RH and VXZ?
As of 2026-08-27, the correlation of weekly returns between RH and VXZ is -0.48 over 3 years, -0.32 over 1 year and -0.50 over 5 years.
Is VXZ a good diversifier for RH?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
What does a correlation of -0.48 mean?
A reading of -0.48 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/rh-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rh-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RH correlations · VXZ correlations
