TLK vs VXZ: Correlation
How closely do PT Telekomunikasi Indonesia, Tbk (TLK) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TLK and VXZ?
Over the past 3 years, TLK 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: -0.32 over 1 year against -0.31 over 3. Over 5 years the correlation is -0.23, and the annualized covariance of weekly returns is -218.0 %².
Among the 10 assets we track against TLK, VXZ sits near the bottom by co-movement, at rank #9. Neither side won the trailing year by much: -19.3% 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.
TLK vs VXZ: side by side
| TLK (PT Telekomunikasi Indonesia, Tbk) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -19.3% | -16.1% |
| 5-year return | -18.1% | -53.1% |
| Volatility (ann.) | 27.9% | 25.6% |
| Beta vs S&P 500 | 0.66 | -1.31 |
| Max drawdown (3Y) | -47.6% | -36.4% |
| Market cap | $14.3B | – |
| P/E (trailing) | 14.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TLK | VXZ |
|---|---|---|
| 2022 | -14.6% | +0.5% |
| 2023 | +12.6% | -44.0% |
| 2024 | -32.3% | -12.7% |
| 2025 | +37.8% | +5.7% |
| 2026 | -25.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TLK and VXZ good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TLK and VXZ?
The TLK/VXZ correlation stands at -0.31 on a 3-year window (1 year: -0.32, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for TLK?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
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/tlk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tlk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TLK correlations · VXZ correlations
