THO vs VXZ: Correlation
Thor Industries, Inc. (THO) 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 -0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are THO and VXZ?
Over the past 3 years, THO and VXZ moved with a correlation of -0.46, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.42 lands near the 3-year figure. Over 5 years the correlation is -0.42, and the annualized covariance of weekly returns is -431.9 %².
Out of 22 assets tracked against THO, VXZ lands near the bottom at #22. Over the last 12 months VXZ came out ahead by 13.1 percentage points (-29.2% against -16.1%).
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.
THO vs VXZ: side by side
| THO (Thor Industries, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -29.2% | -16.1% |
| 5-year return | -26.9% | -53.1% |
| Volatility (ann.) | 37.1% | 25.6% |
| Beta vs S&P 500 | 1.19 | -1.31 |
| Max drawdown (3Y) | -48.4% | -36.4% |
| Market cap | $4.0B | – |
| P/E (trailing) | 15.4 | – |
| Dividend yield | 2.65% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | THO | VXZ |
|---|---|---|
| 2022 | -25.6% | +0.5% |
| 2023 | +59.8% | -44.0% |
| 2024 | -17.9% | -12.7% |
| 2025 | +9.7% | +5.7% |
| 2026 | -24.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are THO and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
FAQ
What is the correlation between THO and VXZ?
The THO/VXZ correlation stands at -0.46 on a 3-year window (1 year: -0.42, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for THO?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
What does a correlation of -0.46 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/tho-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tho-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: THO correlations · VXZ correlations
