RPAY vs VXZ: Correlation
How closely do Repay Holdings Corporation (RPAY) 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 -0.33, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RPAY and VXZ?
On 3 years of weekly data the RPAY/VXZ correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.39 lands near the 3-year figure. The 5-year figure is -0.35, and annualized covariance runs at -458.1 %².
Among the 10 assets we track against RPAY, VXZ sits near the bottom by co-movement, at rank #10. The last year tells two different stories: VXZ led by 19.6 percentage points, -35.7% for RPAY against -16.1% for VXZ. One caveat on sizing: RPAY is 2.1 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.
RPAY vs VXZ: side by side
| RPAY (Repay Holdings Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -35.7% | -16.1% |
| 5-year return | -83.6% | -53.1% |
| Volatility (ann.) | 54.1% | 25.6% |
| Beta vs S&P 500 | 1.37 | -1.31 |
| Max drawdown (3Y) | -78.3% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RPAY | VXZ |
|---|---|---|
| 2022 | -55.9% | +0.5% |
| 2023 | +6.1% | -44.0% |
| 2024 | -10.7% | -12.7% |
| 2025 | -52.2% | +5.7% |
| 2026 | +3.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RPAY and VXZ good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between RPAY and VXZ?
The RPAY/VXZ correlation stands at -0.33 on a 3-year window (1 year: -0.39, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for RPAY?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.33 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/rpay-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rpay-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RPAY correlations · VXZ correlations
