RIO vs VXZ: Correlation
Measured on weekly returns over the past three years, Rio Tinto Plc (RIO) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.36, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RIO and VXZ?
Across a 3-year window, the weekly returns of RIO and VXZ correlate at -0.36, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.37 over 1 year against -0.36 over 3. Stretching to 5 years gives -0.38, with an annualized covariance of -230.8 %².
Out of 19 assets tracked against RIO, VXZ lands near the bottom at #18. Their recent paths diverged sharply: over the last 12 months RIO outperformed by 93.3 percentage points (+77.2% for RIO 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.
RIO vs VXZ: side by side
| RIO (Rio Tinto Plc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +77.2% | -16.1% |
| 5-year return | +94.8% | -53.1% |
| Volatility (ann.) | 25.1% | 25.6% |
| Beta vs S&P 500 | 0.70 | -1.31 |
| Max drawdown (3Y) | -24.2% | -36.4% |
| Market cap | $170.4B | – |
| P/E (trailing) | 14.2 | – |
| Dividend yield | 4.44% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RIO | VXZ |
|---|---|---|
| 2022 | +18.5% | +0.5% |
| 2023 | +11.1% | -44.0% |
| 2024 | -15.4% | -12.7% |
| 2025 | +44.5% | +5.7% |
| 2026 | +37.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RIO and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between RIO and VXZ?
As of 2026-08-27, the correlation of weekly returns between RIO and VXZ is -0.36 over 3 years, -0.37 over 1 year and -0.38 over 5 years.
Is VXZ a good diversifier for RIO?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/rio-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rio-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RIO correlations · VXZ correlations
