SCHW vs VXZ: Correlation
Measured on weekly returns over the past three years, Charles Schwab Corporation (SCHW) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.47, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCHW and VXZ?
On 3 years of weekly data the SCHW/VXZ correlation comes out at -0.47, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.28) runs above the 3-year figure (-0.47). The 5-year figure is -0.48, and annualized covariance runs at -332.9 %².
Out of 27 assets tracked against SCHW, VXZ lands near the bottom at #26. Correlation aside, the last 12 months split them widely, with SCHW ahead by 29.1 points (+13.0% versus -16.1%).
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.
SCHW vs VXZ: side by side
| SCHW (Charles Schwab Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +13.0% | -16.1% |
| 5-year return | +57.3% | -53.1% |
| Volatility (ann.) | 27.8% | 25.6% |
| Beta vs S&P 500 | 0.93 | -1.31 |
| Max drawdown (3Y) | -21.4% | -36.4% |
| Market cap | $186.9B | – |
| P/E (trailing) | 19.9 | – |
| Dividend yield | 1.08% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | SCHW | VXZ |
|---|---|---|
| 2022 | +0.1% | +0.5% |
| 2023 | -16.0% | -44.0% |
| 2024 | +9.2% | -12.7% |
| 2025 | +36.6% | +5.7% |
| 2026 | +9.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCHW and VXZ good diversifiers for each other?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SCHW and VXZ?
Using weekly returns as of 2026-08-27: -0.47 over 3 years, with -0.28 over the last year and -0.48 over 5 years.
Is VXZ a good diversifier for SCHW?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.47 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/schw-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/schw-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SCHW correlations · VXZ correlations
