TARS vs VXZ: Correlation
Measured on weekly returns over the past three years, Tarsus Pharmaceuticals, Inc. (TARS) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TARS and VXZ?
Over the past 3 years, TARS and VXZ moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.06) runs above the 3-year figure (-0.23). Over 5 years the correlation is -0.21, and the annualized covariance of weekly returns is -311.1 %².
Out of 15 assets tracked against TARS, VXZ lands near the bottom at #14. Correlation aside, the last 12 months split them widely, with TARS ahead by 40.5 points (+24.4% versus -16.1%). Risk is not evenly split, since TARS carries 2.1 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.
TARS vs VXZ: side by side
| TARS (Tarsus Pharmaceuticals, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +24.4% | -16.1% |
| 5-year return | +171.4% | -53.1% |
| Volatility (ann.) | 53.2% | 25.6% |
| Beta vs S&P 500 | 0.51 | -1.31 |
| Max drawdown (3Y) | -45.1% | -36.4% |
| Market cap | $3.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TARS | VXZ |
|---|---|---|
| 2022 | -34.8% | +0.5% |
| 2023 | +38.1% | -44.0% |
| 2024 | +173.4% | -12.7% |
| 2025 | +47.9% | +5.7% |
| 2026 | -12.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TARS and VXZ good diversifiers for each other?
Yes. With a correlation of -0.23, TARS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TARS and VXZ?
As of 2026-08-27, the correlation of weekly returns between TARS and VXZ is -0.23 over 3 years, 0.06 over 1 year and -0.21 over 5 years.
Is VXZ a good diversifier for TARS?
Yes. With a correlation of -0.23, TARS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/tars-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tars-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TARS correlations · VXZ correlations
