TDG vs VXZ: Correlation
How closely do TransDigm Group (TDG) 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 -0.43, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TDG and VXZ?
Across a 3-year window, the weekly returns of TDG and VXZ correlate at -0.43, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.32) runs above the 3-year figure (-0.43). Stretching to 5 years gives -0.50, with an annualized covariance of -284.0 %².
VXZ is close to the least connected end of TDG's tracked universe, ranking #30 of 31. On 12-month performance TDG holds a 7.0-point edge, -9.1% against -16.1%.
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.
TDG vs VXZ: side by side
| TDG (TransDigm Group) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -9.1% | -16.1% |
| 5-year return | +136.5% | -53.1% |
| Volatility (ann.) | 25.5% | 25.6% |
| Beta vs S&P 500 | 0.91 | -1.31 |
| Max drawdown (3Y) | -25.3% | -36.4% |
| Market cap | $65.6B | – |
| P/E (trailing) | 36.6 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | TDG | VXZ |
|---|---|---|
| 2022 | +1.8% | +0.5% |
| 2023 | +66.6% | -44.0% |
| 2024 | +32.3% | -12.7% |
| 2025 | +12.2% | +5.7% |
| 2026 | -10.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TDG and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
FAQ
What is the correlation between TDG and VXZ?
Using weekly returns as of 2026-08-27: -0.43 over 3 years, with -0.32 over the last year and -0.50 over 5 years.
Is VXZ a good diversifier for TDG?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
What does a correlation of -0.43 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tdg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tdg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TDG correlations · VXZ correlations
