SABR vs VXZ: Correlation
Measured on weekly returns over the past three years, Sabre Corporation (SABR) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SABR and VXZ?
On 3 years of weekly data the SABR/VXZ correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.10) than the 3-year average (-0.33). The 5-year figure is -0.33, and annualized covariance runs at -631.0 %².
Among the 11 assets we track against SABR, VXZ sits near the bottom by co-movement, at rank #10. The last year tells two different stories: SABR led by 37.0 percentage points, +20.9% for SABR against -16.1% for VXZ. Note the risk asymmetry: SABR runs 2.9 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.
SABR vs VXZ: side by side
| SABR (Sabre Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +20.9% | -16.1% |
| 5-year return | -80.2% | -53.1% |
| Volatility (ann.) | 75.5% | 25.6% |
| Beta vs S&P 500 | 2.20 | -1.31 |
| Max drawdown (3Y) | -84.8% | -36.4% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SABR | VXZ |
|---|---|---|
| 2022 | -28.1% | +0.5% |
| 2023 | -28.8% | -44.0% |
| 2024 | -17.0% | -12.7% |
| 2025 | -62.7% | +5.7% |
| 2026 | +57.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SABR and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between SABR and VXZ?
As of 2026-08-27, the correlation of weekly returns between SABR and VXZ is -0.33 over 3 years, -0.10 over 1 year and -0.33 over 5 years.
Is VXZ a good diversifier for SABR?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
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/sabr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sabr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SABR correlations · VXZ correlations
