TFIN vs VXZ: Correlation
Measured on weekly returns over the past three years, Triumph Financial, Inc. (TFIN) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.51, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TFIN and VXZ?
On 3 years of weekly data the TFIN/VXZ correlation comes out at -0.51, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.37) runs above the 3-year figure (-0.51). The 5-year figure is -0.46, and annualized covariance runs at -559.8 %².
Among the 13 assets we track against TFIN, VXZ sits near the bottom by co-movement, at rank #13. The last year tells two different stories: TFIN led by 31.6 percentage points, +15.5% for TFIN against -16.1% for VXZ. Risk is not evenly split, since TFIN carries 1.7 times the volatility of the other side.
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.
TFIN vs VXZ: side by side
| TFIN (Triumph Financial, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +15.5% | -16.1% |
| 5-year return | -12.0% | -53.1% |
| Volatility (ann.) | 42.5% | 25.6% |
| Beta vs S&P 500 | 1.30 | -1.31 |
| Max drawdown (3Y) | -57.6% | -36.4% |
| Market cap | $1.7B | – |
| P/E (trailing) | 49.6 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TFIN | VXZ |
|---|---|---|
| 2022 | -59.0% | +0.5% |
| 2023 | +64.1% | -44.0% |
| 2024 | +13.3% | -12.7% |
| 2025 | -31.1% | +5.7% |
| 2026 | +14.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TFIN and VXZ good diversifiers for each other?
Yes. With a correlation of -0.51, TFIN and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TFIN and VXZ?
Using weekly returns as of 2026-08-27: -0.51 over 3 years, with -0.37 over the last year and -0.46 over 5 years.
Is VXZ a good diversifier for TFIN?
Yes. With a correlation of -0.51, TFIN and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.51 mean?
On the −1 to +1 scale, -0.51 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tfin-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tfin-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TFIN correlations · VXZ correlations
