RKLB vs VXZ: Correlation
Rocket Lab Corporation (RKLB) 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 -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RKLB and VXZ?
On 3 years of weekly data the RKLB/VXZ correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.26 lands near the 3-year figure. The 5-year figure is -0.30, and annualized covariance runs at -643.8 %².
Out of 22 assets tracked against RKLB, VXZ lands near the bottom at #20. The last year tells two different stories: RKLB led by 62.1 percentage points, +46.0% for RKLB against -16.1% for VXZ. Note the risk asymmetry: RKLB runs 3.3 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.
RKLB vs VXZ: side by side
| RKLB (Rocket Lab Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +46.0% | -16.1% |
| 5-year return | +573.3% | -53.1% |
| Volatility (ann.) | 85.6% | 25.6% |
| Beta vs S&P 500 | 2.58 | -1.31 |
| Max drawdown (3Y) | -61.0% | -36.4% |
| Market cap | $43.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RKLB | VXZ |
|---|---|---|
| 2022 | -69.3% | +0.5% |
| 2023 | +46.7% | -44.0% |
| 2024 | +360.6% | -12.7% |
| 2025 | +173.9% | +5.7% |
| 2026 | -3.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RKLB and VXZ good diversifiers for each other?
Yes. With a correlation of -0.29, RKLB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RKLB and VXZ?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.26 over the last year and -0.30 over 5 years.
Is VXZ a good diversifier for RKLB?
Yes. With a correlation of -0.29, RKLB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
A reading of -0.29 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/rklb-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rklb-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RKLB correlations · VXZ correlations
