TE vs VXZ: Correlation
T1 Energy Inc. (TE) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TE and VXZ?
On 3 years of weekly data the TE/VXZ correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.18) than the 3-year average (-0.28). The 5-year figure is -0.30, and annualized covariance runs at -925.4 %².
VXZ is close to the least connected end of TE's tracked universe, ranking #10 of 11. The last year tells two different stories: TE led by 230.0 percentage points, +213.9% for TE against -16.1% for VXZ. Note the risk asymmetry: TE runs 5.0 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.
TE vs VXZ: side by side
| TE (T1 Energy Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +213.9% | -16.1% |
| 5-year return | -44.5% | -53.1% |
| Volatility (ann.) | 127.8% | 25.6% |
| Beta vs S&P 500 | 2.71 | -1.31 |
| Max drawdown (3Y) | -85.5% | -36.4% |
| Market cap | $1.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TE | VXZ |
|---|---|---|
| 2022 | -22.4% | +0.5% |
| 2023 | -78.5% | -44.0% |
| 2024 | +38.0% | -12.7% |
| 2025 | +158.9% | +5.7% |
| 2026 | -25.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TE and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between TE and VXZ?
As of 2026-08-27, the correlation of weekly returns between TE and VXZ is -0.28 over 3 years, -0.18 over 1 year and -0.30 over 5 years.
Is VXZ a good diversifier for TE?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 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/te-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/te-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TE correlations · VXZ correlations
