ROP vs VXZ: Correlation
How closely do Roper Technologies (ROP) 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 -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ROP and VXZ?
Over the past 3 years, ROP and VXZ moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.23) runs above the 3-year figure (-0.37). Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -192.9 %².
VXZ is close to the least connected end of ROP's tracked universe, ranking #47 of 47. Their 12-month results are close: -19.3% for ROP 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.
ROP vs VXZ: side by side
| ROP (Roper Technologies) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -19.3% | -16.1% |
| 5-year return | -9.6% | -53.1% |
| Volatility (ann.) | 20.5% | 25.6% |
| Beta vs S&P 500 | 0.55 | -1.31 |
| Max drawdown (3Y) | -46.5% | -36.4% |
| Market cap | $41.8B | – |
| P/E (trailing) | 17.6 | – |
| Dividend yield | 0.86% | – |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | ROP | VXZ |
|---|---|---|
| 2022 | -11.6% | +0.5% |
| 2023 | +26.9% | -44.0% |
| 2024 | -4.1% | -12.7% |
| 2025 | -13.8% | +5.7% |
| 2026 | -4.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ROP and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between ROP and VXZ?
As of 2026-08-27, the correlation of weekly returns between ROP and VXZ is -0.37 over 3 years, -0.23 over 1 year and -0.40 over 5 years.
Is VXZ a good diversifier for ROP?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 mean?
On the −1 to +1 scale, -0.37 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/rop-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rop-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ROP correlations · VXZ correlations
