SOLV vs VXZ: Correlation
Solventum (SOLV) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SOLV and VXZ?
Across a 3-year window, the weekly returns of SOLV and VXZ correlate at -0.31, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.18) than the 3-year average (-0.31). Stretching to 5 years gives n/a, with an annualized covariance of -240.8 %².
VXZ is close to the least connected end of SOLV's tracked universe, ranking #30 of 30. Their recent paths diverged sharply: over the last 12 months SOLV outperformed by 40.8 percentage points (+24.7% for SOLV against -16.1% for VXZ).
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.
SOLV vs VXZ: side by side
| SOLV (Solventum) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +24.7% | -16.1% |
| 5-year return | n/a | -53.1% |
| Volatility (ann.) | 30.4% | 25.6% |
| Beta vs S&P 500 | 0.62 | -1.31 |
| Max drawdown (3Y) | -40.0% | -36.4% |
| Market cap | $15.5B | – |
| P/E (trailing) | 11.2 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | SOLV | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | – | -44.0% |
| 2024 | – | -12.7% |
| 2025 | +20.0% | +5.7% |
| 2026 | +14.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SOLV and VXZ good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SOLV and VXZ?
The SOLV/VXZ correlation stands at -0.31 on a 3-year window (1 year: -0.18, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for SOLV?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/solv-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/solv-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SOLV correlations · VXZ correlations
