RNG vs VXZ: Correlation
Measured on weekly returns over the past three years, RingCentral, Inc. (RNG) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RNG and VXZ?
Across a 3-year window, the weekly returns of RNG and VXZ correlate at -0.32, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.12) than the 3-year average (-0.32). Stretching to 5 years gives -0.33, with an annualized covariance of -429.3 %².
Out of 16 assets tracked against RNG, VXZ lands near the bottom at #15. The last year tells two different stories: RNG led by 140.4 percentage points, +124.3% for RNG against -16.1% for VXZ. One caveat on sizing: RNG is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
RNG vs VXZ: side by side
| RNG (RingCentral, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +124.3% | -16.1% |
| 5-year return | -73.1% | -53.1% |
| Volatility (ann.) | 52.2% | 25.6% |
| Beta vs S&P 500 | 1.54 | -1.31 |
| Max drawdown (3Y) | -48.6% | -36.4% |
| Market cap | $5.7B | – |
| P/E (trailing) | 52.7 | – |
| Dividend yield | 0.23% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RNG | VXZ |
|---|---|---|
| 2022 | -81.1% | +0.5% |
| 2023 | -4.1% | -44.0% |
| 2024 | +3.1% | -12.7% |
| 2025 | -17.5% | +5.7% |
| 2026 | +138.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RNG and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between RNG and VXZ?
The RNG/VXZ correlation stands at -0.32 on a 3-year window (1 year: -0.12, 5 years: -0.33), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for RNG?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 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/rng-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rng-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RNG correlations · VXZ correlations
