THRM vs VXZ: Correlation
Measured on weekly returns over the past three years, Gentherm Inc (THRM) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.34, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are THRM and VXZ?
Across a 3-year window, the weekly returns of THRM and VXZ correlate at -0.34, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.34) sits close to the 3-year figure. Stretching to 5 years gives -0.36, with an annualized covariance of -320.9 %².
VXZ is close to the least connected end of THRM's tracked universe, ranking #9 of 10. The last year tells two different stories: THRM led by 24.7 percentage points, +8.6% for THRM 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.
THRM vs VXZ: side by side
| THRM (Gentherm Inc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +8.6% | -16.1% |
| 5-year return | -54.0% | -53.1% |
| Volatility (ann.) | 36.4% | 25.6% |
| Beta vs S&P 500 | 1.04 | -1.31 |
| Max drawdown (3Y) | -61.8% | -36.4% |
| Market cap | $1.2B | – |
| P/E (trailing) | 47.0 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | THRM | VXZ |
|---|---|---|
| 2022 | -24.9% | +0.5% |
| 2023 | -19.8% | -44.0% |
| 2024 | -23.8% | -12.7% |
| 2025 | -8.9% | +5.7% |
| 2026 | +11.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are THRM and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between THRM and VXZ?
The THRM/VXZ correlation stands at -0.34 on a 3-year window (1 year: -0.34, 5 years: -0.36), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for THRM?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 mean?
A reading of -0.34 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/thrm-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/thrm-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: THRM correlations · VXZ correlations
