TEM vs VXZ: Correlation
Measured on weekly returns over the past three years, Tempus AI, Inc. (TEM) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.42, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TEM and VXZ?
Across a 3-year window, the weekly returns of TEM and VXZ correlate at -0.42, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.35) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -1137.9 %².
Among the 39 assets we track against TEM, VXZ sits near the bottom by co-movement, at rank #39. Over the last 12 months TEM came out ahead by 12.6 percentage points (-3.5% against -16.1%). One caveat on sizing: TEM is 4.1 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.
TEM vs VXZ: side by side
| TEM (Tempus AI, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -3.5% | -16.1% |
| 5-year return | n/a | -53.1% |
| Volatility (ann.) | 104.7% | 25.6% |
| Beta vs S&P 500 | 3.25 | -1.31 |
| Max drawdown (3Y) | -59.8% | -36.4% |
| Market cap | $12.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TEM | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | – | -44.0% |
| 2024 | – | -12.7% |
| 2025 | +74.9% | +5.7% |
| 2026 | +19.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TEM and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
FAQ
What is the correlation between TEM and VXZ?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with -0.35 over the last year and n/a over 5 years.
Is VXZ a good diversifier for TEM?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
What does a correlation of -0.42 mean?
A reading of -0.42 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/tem-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tem-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TEM correlations · VXZ correlations
