SYRE vs VXZ: Correlation
How closely do Spyre Therapeutics, Inc. (SYRE) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SYRE and VXZ?
On 3 years of weekly data the SYRE/VXZ correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.13) sits close to the 3-year figure. The 5-year figure is -0.13, and annualized covariance runs at -488.9 %².
Among the 15 assets we track against SYRE, VXZ sits near the bottom by co-movement, at rank #13. Their recent paths diverged sharply: over the last 12 months SYRE outperformed by 462.3 percentage points (+446.2% for SYRE against -16.1% for VXZ). Risk is not evenly split, since SYRE carries 3.3 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.
SYRE vs VXZ: side by side
| SYRE (Spyre Therapeutics, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +446.2% | -16.1% |
| 5-year return | -47.5% | -53.1% |
| Volatility (ann.) | 83.8% | 25.6% |
| Beta vs S&P 500 | 1.80 | -1.31 |
| Max drawdown (3Y) | -74.0% | -36.4% |
| Market cap | $8.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SYRE | VXZ |
|---|---|---|
| 2022 | -90.5% | +0.5% |
| 2023 | +91.3% | -44.0% |
| 2024 | +8.2% | -12.7% |
| 2025 | +40.7% | +5.7% |
| 2026 | +185.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SYRE and VXZ good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SYRE and VXZ?
The SYRE/VXZ correlation stands at -0.23 on a 3-year window (1 year: -0.13, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for SYRE?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 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/syre-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/syre-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SYRE correlations · VXZ correlations
