TITN vs VXZ: Correlation
Measured on weekly returns over the past three years, Titan Machinery Inc. (TITN) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.36, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TITN and VXZ?
Over the past 3 years, TITN and VXZ moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.30 lands near the 3-year figure. Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -446.7 %².
Out of 10 assets tracked against TITN, VXZ lands near the bottom at #10. Neither side won the trailing year by much: -12.3% against -16.1%. One caveat on sizing: TITN is 1.9 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.
TITN vs VXZ: side by side
| TITN (Titan Machinery Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -12.3% | -16.1% |
| 5-year return | -35.8% | -53.1% |
| Volatility (ann.) | 48.9% | 25.6% |
| Beta vs S&P 500 | 1.27 | -1.31 |
| Max drawdown (3Y) | -58.5% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TITN | VXZ |
|---|---|---|
| 2022 | +17.9% | +0.5% |
| 2023 | -27.3% | -44.0% |
| 2024 | -51.1% | -12.7% |
| 2025 | +6.4% | +5.7% |
| 2026 | +22.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TITN and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between TITN and VXZ?
The TITN/VXZ correlation stands at -0.36 on a 3-year window (1 year: -0.30, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for TITN?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 mean?
A reading of -0.36 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/titn-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/titn-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TITN correlations · VXZ correlations
