TECH vs VXZ: Correlation
Measured on weekly returns over the past three years, Bio-Techne (TECH) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TECH and VXZ?
On 3 years of weekly data the TECH/VXZ correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.39 over 1 year against -0.31 over 3. The 5-year figure is -0.35, and annualized covariance runs at -336.8 %².
Out of 39 assets tracked against TECH, VXZ lands near the bottom at #39. Their recent paths diverged sharply: over the last 12 months TECH outperformed by 45.7 percentage points (+29.6% for TECH against -16.1% for VXZ). One caveat on sizing: TECH is 1.6 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.
TECH vs VXZ: side by side
| TECH (Bio-Techne) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +29.6% | -16.1% |
| 5-year return | -41.4% | -53.1% |
| Volatility (ann.) | 41.9% | 25.6% |
| Beta vs S&P 500 | 0.90 | -1.31 |
| Max drawdown (3Y) | -48.1% | -36.4% |
| Market cap | $11.4B | – |
| P/E (trailing) | 62.5 | – |
| Dividend yield | 0.44% | – |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | TECH | VXZ |
|---|---|---|
| 2022 | -35.7% | +0.5% |
| 2023 | -6.5% | -44.0% |
| 2024 | -6.2% | -12.7% |
| 2025 | -17.9% | +5.7% |
| 2026 | +23.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TECH and VXZ good diversifiers for each other?
Yes. With a correlation of -0.31, TECH and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TECH and VXZ?
The TECH/VXZ correlation stands at -0.31 on a 3-year window (1 year: -0.39, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for TECH?
Yes. With a correlation of -0.31, TECH and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
A reading of -0.31 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/tech-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tech-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TECH correlations · VXZ correlations
