TCRX vs VXZ: Correlation
Measured on weekly returns over the past three years, TScan Therapeutics, Inc. (TCRX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TCRX and VXZ?
Across a 3-year window, the weekly returns of TCRX and VXZ correlate at -0.26, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.28 over 1 year against -0.26 over 3. Stretching to 5 years gives -0.19, with an annualized covariance of -551.4 %².
VXZ is close to the least connected end of TCRX's tracked universe, ranking #15 of 17. Correlation aside, the last 12 months split them widely, with VXZ ahead by 43.8 points (-59.9% versus -16.1%). One caveat on sizing: TCRX is 3.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
TCRX vs VXZ: side by side
| TCRX (TScan Therapeutics, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -59.9% | -16.1% |
| 5-year return | -91.3% | -53.1% |
| Volatility (ann.) | 82.6% | 25.6% |
| Beta vs S&P 500 | 2.01 | -1.31 |
| Max drawdown (3Y) | -92.4% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TCRX | VXZ |
|---|---|---|
| 2022 | -65.6% | +0.5% |
| 2023 | +276.1% | -44.0% |
| 2024 | -47.9% | -12.7% |
| 2025 | -67.1% | +5.7% |
| 2026 | -25.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TCRX and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between TCRX and VXZ?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.28 over the last year and -0.19 over 5 years.
Is VXZ a good diversifier for TCRX?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/tcrx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tcrx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TCRX correlations · VXZ correlations
