RRX vs VXZ: Correlation
Measured on weekly returns over the past three years, Regal Rexnord Corporation (RRX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.36, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RRX and VXZ?
On 3 years of weekly data the RRX/VXZ correlation comes out at -0.36, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.25) than the 3-year average (-0.36). The 5-year figure is -0.38, and annualized covariance runs at -383.8 %².
Among the 24 assets we track against RRX, VXZ sits near the bottom by co-movement, at rank #23. Their recent paths diverged sharply: over the last 12 months RRX outperformed by 24.3 percentage points (+8.2% for RRX against -16.1% for VXZ). Note the risk asymmetry: RRX runs 1.6 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.
RRX vs VXZ: side by side
| RRX (Regal Rexnord Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +8.2% | -16.1% |
| 5-year return | +18.1% | -53.1% |
| Volatility (ann.) | 42.0% | 25.6% |
| Beta vs S&P 500 | 1.10 | -1.31 |
| Max drawdown (3Y) | -48.1% | -36.4% |
| Market cap | $10.9B | – |
| P/E (trailing) | 34.0 | – |
| Dividend yield | 0.85% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RRX | VXZ |
|---|---|---|
| 2022 | -28.7% | +0.5% |
| 2023 | +24.6% | -44.0% |
| 2024 | +5.7% | -12.7% |
| 2025 | -8.6% | +5.7% |
| 2026 | +17.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RRX and VXZ good diversifiers for each other?
Yes. With a correlation of -0.36, RRX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RRX and VXZ?
The RRX/VXZ correlation stands at -0.36 on a 3-year window (1 year: -0.25, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for RRX?
Yes. With a correlation of -0.36, RRX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.36 mean?
On the −1 to +1 scale, -0.36 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/rrx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rrx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RRX correlations · VXZ correlations
