TKO vs VXZ: Correlation
Measured on weekly returns over the past three years, TKO Group Holdings (TKO) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TKO and VXZ?
Over the past 3 years, TKO and VXZ moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.40 over 1 year against -0.31 over 3. Over 5 years the correlation is -0.30, and the annualized covariance of weekly returns is -251.9 %².
Among the 32 assets we track against TKO, VXZ sits near the bottom by co-movement, at rank #31. The last year tells two different stories: TKO led by 16.9 percentage points, +0.8% for TKO 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.
TKO vs VXZ: side by side
| TKO (TKO Group Holdings) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +0.8% | -16.1% |
| 5-year return | +281.8% | -53.1% |
| Volatility (ann.) | 32.1% | 25.6% |
| Beta vs S&P 500 | 0.70 | -1.31 |
| Max drawdown (3Y) | -34.8% | -36.4% |
| Market cap | $34.9B | – |
| P/E (trailing) | 65.8 | – |
| Dividend yield | 1.66% | – |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | TKO | VXZ |
|---|---|---|
| 2022 | +39.9% | +0.5% |
| 2023 | +23.9% | -44.0% |
| 2024 | +74.2% | -12.7% |
| 2025 | +48.9% | +5.7% |
| 2026 | -11.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TKO and VXZ good diversifiers for each other?
Yes. With a correlation of -0.31, TKO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TKO and VXZ?
As of 2026-08-27, the correlation of weekly returns between TKO and VXZ is -0.31 over 3 years, -0.40 over 1 year and -0.30 over 5 years.
Is VXZ a good diversifier for TKO?
Yes. With a correlation of -0.31, TKO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
A reading of -0.31 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/tko-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tko-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TKO correlations · VXZ correlations
