STGW vs VXZ: Correlation
Stagwell Inc. (STGW) 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 -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are STGW and VXZ?
Over the past 3 years, STGW and VXZ moved with a correlation of -0.42, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.11) runs above the 3-year figure (-0.42). Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -522.3 %².
VXZ is close to the least connected end of STGW's tracked universe, ranking #13 of 13. Their recent paths diverged sharply: over the last 12 months STGW outperformed by 75.2 percentage points (+59.1% for STGW against -16.1% for VXZ). Risk is not evenly split, since STGW 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.
STGW vs VXZ: side by side
| STGW (Stagwell Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +59.1% | -16.1% |
| 5-year return | +30.4% | -53.1% |
| Volatility (ann.) | 49.1% | 25.6% |
| Beta vs S&P 500 | 1.28 | -1.31 |
| Max drawdown (3Y) | -48.6% | -36.4% |
| Market cap | $2.2B | – |
| P/E (trailing) | 148.0 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | STGW | VXZ |
|---|---|---|
| 2022 | -28.4% | +0.5% |
| 2023 | +6.8% | -44.0% |
| 2024 | -0.8% | -12.7% |
| 2025 | -25.7% | +5.7% |
| 2026 | +81.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are STGW and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
FAQ
What is the correlation between STGW and VXZ?
As of 2026-08-27, the correlation of weekly returns between STGW and VXZ is -0.42 over 3 years, -0.11 over 1 year and -0.38 over 5 years.
Is VXZ a good diversifier for STGW?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
What does a correlation of -0.42 mean?
A reading of -0.42 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/stgw-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/stgw-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: STGW correlations · VXZ correlations
