RYZ vs VXZ: Correlation
Measured on weekly returns over the past three years, Ryerson Holding Corporation (RYZ) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RYZ and VXZ?
Across a 3-year window, the weekly returns of RYZ and VXZ correlate at -0.32, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.29 lands near the 3-year figure. Stretching to 5 years gives -0.32, with an annualized covariance of -383.2 %².
Out of 13 assets tracked against RYZ, VXZ lands near the bottom at #12. The last year tells two different stories: RYZ led by 31.3 percentage points, +15.2% for RYZ against -16.1% for VXZ. Risk is not evenly split, since RYZ carries 1.9 times the volatility of the other side.
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.
RYZ vs VXZ: side by side
| RYZ (Ryerson Holding Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +15.2% | -16.1% |
| 5-year return | +20.9% | -53.1% |
| Volatility (ann.) | 47.4% | 25.6% |
| Beta vs S&P 500 | 1.18 | -1.31 |
| Max drawdown (3Y) | -49.0% | -36.4% |
| Market cap | $1.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.98% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RYZ | VXZ |
|---|---|---|
| 2022 | +18.3% | +0.5% |
| 2023 | +17.1% | -44.0% |
| 2024 | -44.9% | -12.7% |
| 2025 | +40.4% | +5.7% |
| 2026 | +2.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RYZ and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between RYZ and VXZ?
Using weekly returns as of 2026-08-27: -0.32 over 3 years, with -0.29 over the last year and -0.32 over 5 years.
Is VXZ a good diversifier for RYZ?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 mean?
A reading of -0.32 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/ryz-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ryz-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RYZ correlations · VXZ correlations
