TEL vs VXZ: Correlation
How closely do TE Connectivity (TEL) 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 -0.54, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TEL and VXZ?
Over the past 3 years, TEL and VXZ moved with a correlation of -0.54, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.40) than the 3-year average (-0.54). Over 5 years the correlation is -0.56, and the annualized covariance of weekly returns is -396.0 %².
VXZ is close to the least connected end of TEL's tracked universe, ranking #35 of 36. The last year tells two different stories: TEL led by 15.0 percentage points, -1.1% for TEL against -16.1% for VXZ.
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.
TEL vs VXZ: side by side
| TEL (TE Connectivity) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.1% | -16.1% |
| 5-year return | +43.7% | -53.1% |
| Volatility (ann.) | 28.8% | 25.6% |
| Beta vs S&P 500 | 1.32 | -1.31 |
| Max drawdown (3Y) | -22.6% | -36.4% |
| Market cap | $58.8B | – |
| P/E (trailing) | 20.1 | – |
| Dividend yield | 1.42% | – |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | TEL | VXZ |
|---|---|---|
| 2022 | -27.7% | +0.5% |
| 2023 | +24.6% | -44.0% |
| 2024 | +3.5% | -12.7% |
| 2025 | +61.1% | +5.7% |
| 2026 | -9.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TEL and VXZ good diversifiers for each other?
Yes: at -0.54, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TEL and VXZ?
As of 2026-08-27, the correlation of weekly returns between TEL and VXZ is -0.54 over 3 years, -0.40 over 1 year and -0.56 over 5 years.
Is VXZ a good diversifier for TEL?
Yes: at -0.54, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.54 mean?
A reading of -0.54 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/tel-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tel-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TEL correlations · VXZ correlations
