TDOC vs VXZ: Correlation
Measured on weekly returns over the past three years, Teladoc Health, Inc. (TDOC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TDOC and VXZ?
On 3 years of weekly data the TDOC/VXZ correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.35 lands near the 3-year figure. The 5-year figure is -0.37, and annualized covariance runs at -439.8 %².
Out of 18 assets tracked against TDOC, VXZ lands near the bottom at #16. Their 12-month results are close: -17.8% for TDOC against -16.1% for VXZ. Note the risk asymmetry: TDOC runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
TDOC vs VXZ: side by side
| TDOC (Teladoc Health, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -17.8% | -16.1% |
| 5-year return | -95.6% | -53.1% |
| Volatility (ann.) | 58.1% | 25.6% |
| Beta vs S&P 500 | 1.55 | -1.31 |
| Max drawdown (3Y) | -80.5% | -36.4% |
| Market cap | $1.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TDOC | VXZ |
|---|---|---|
| 2022 | -74.2% | +0.5% |
| 2023 | -8.9% | -44.0% |
| 2024 | -57.8% | -12.7% |
| 2025 | -23.0% | +5.7% |
| 2026 | -9.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TDOC and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between TDOC and VXZ?
The TDOC/VXZ correlation stands at -0.30 on a 3-year window (1 year: -0.35, 5 years: -0.37), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for TDOC?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
A reading of -0.30 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/tdoc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tdoc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TDOC correlations · VXZ correlations
