RVMD vs VXZ: Correlation
How closely do Revolution Medicines, Inc. (RVMD) 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 -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RVMD and VXZ?
Over the past 3 years, RVMD and VXZ moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.30 over 1 year against -0.25 over 3. Over 5 years the correlation is -0.27, and the annualized covariance of weekly returns is -406.9 %².
VXZ is close to the least connected end of RVMD's tracked universe, ranking #11 of 11. Correlation aside, the last 12 months split them widely, with RVMD ahead by 497.5 points (+481.4% versus -16.1%). One caveat on sizing: RVMD is 2.5 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.
RVMD vs VXZ: side by side
| RVMD (Revolution Medicines, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +481.4% | -16.1% |
| 5-year return | +680.1% | -53.1% |
| Volatility (ann.) | 64.9% | 25.6% |
| Beta vs S&P 500 | 1.64 | -1.31 |
| Max drawdown (3Y) | -48.6% | -36.4% |
| Market cap | $47.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RVMD | VXZ |
|---|---|---|
| 2022 | -5.4% | +0.5% |
| 2023 | +20.4% | -44.0% |
| 2024 | +52.5% | -12.7% |
| 2025 | +82.1% | +5.7% |
| 2026 | +177.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RVMD and VXZ good diversifiers for each other?
Yes. With a correlation of -0.25, RVMD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RVMD and VXZ?
The RVMD/VXZ correlation stands at -0.25 on a 3-year window (1 year: -0.30, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for RVMD?
Yes. With a correlation of -0.25, RVMD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/rvmd-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rvmd-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RVMD correlations · VXZ correlations
