RIOT vs VXZ: Correlation
How closely do Riot Platforms, Inc. (RIOT) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.40, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RIOT and VXZ?
Over the past 3 years, RIOT and VXZ moved with a correlation of -0.40, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.36) sits close to the 3-year figure. Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -842.2 %².
VXZ is close to the least connected end of RIOT's tracked universe, ranking #20 of 21. Their recent paths diverged sharply: over the last 12 months RIOT outperformed by 70.2 percentage points (+54.1% for RIOT against -16.1% for VXZ). Risk is not evenly split, since RIOT carries 3.2 times the volatility of the other side.
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.
RIOT vs VXZ: side by side
| RIOT (Riot Platforms, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +54.1% | -16.1% |
| 5-year return | -44.6% | -53.1% |
| Volatility (ann.) | 82.3% | 25.6% |
| Beta vs S&P 500 | 2.40 | -1.31 |
| Max drawdown (3Y) | -66.2% | -36.4% |
| Market cap | $7.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RIOT | VXZ |
|---|---|---|
| 2022 | -84.8% | +0.5% |
| 2023 | +356.3% | -44.0% |
| 2024 | -34.0% | -12.7% |
| 2025 | +24.1% | +5.7% |
| 2026 | +64.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RIOT and VXZ good diversifiers for each other?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between RIOT and VXZ?
As of 2026-08-27, the correlation of weekly returns between RIOT and VXZ is -0.40 over 3 years, -0.36 over 1 year and -0.40 over 5 years.
Is VXZ a good diversifier for RIOT?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.40 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/riot-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/riot-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RIOT correlations · VXZ correlations
