ROKU vs VXZ: Correlation
How closely do Roku, Inc. (ROKU) 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 -0.52, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ROKU and VXZ?
Over the past 3 years, ROKU and VXZ moved with a correlation of -0.52, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.39) than the 3-year average (-0.52). Over 5 years the correlation is -0.46, and the annualized covariance of weekly returns is -801.1 %².
VXZ is close to the least connected end of ROKU's tracked universe, ranking #13 of 14. The last year tells two different stories: ROKU led by 78.6 percentage points, +62.5% for ROKU against -16.1% for VXZ. Note the risk asymmetry: ROKU runs 2.3 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.
ROKU vs VXZ: side by side
| ROKU (Roku, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +62.5% | -16.1% |
| 5-year return | -56.1% | -53.1% |
| Volatility (ann.) | 59.9% | 25.6% |
| Beta vs S&P 500 | 2.49 | -1.31 |
| Max drawdown (3Y) | -51.7% | -36.4% |
| Market cap | $23.2B | – |
| P/E (trailing) | 67.1 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ROKU | VXZ |
|---|---|---|
| 2022 | -82.2% | +0.5% |
| 2023 | +125.2% | -44.0% |
| 2024 | -18.9% | -12.7% |
| 2025 | +45.9% | +5.7% |
| 2026 | +44.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ROKU and VXZ good diversifiers for each other?
Yes. With a correlation of -0.52, ROKU and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ROKU and VXZ?
The ROKU/VXZ correlation stands at -0.52 on a 3-year window (1 year: -0.39, 5 years: -0.46), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ROKU?
Yes. With a correlation of -0.52, ROKU and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.52 mean?
A reading of -0.52 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/roku-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/roku-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ROKU correlations · VXZ correlations
