TLN vs VXZ: Correlation
How closely do Talen Energy Corporation (TLN) 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 -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TLN and VXZ?
Across a 3-year window, the weekly returns of TLN and VXZ correlate at -0.30, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.22 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -366.7 %².
Out of 12 assets tracked against TLN, VXZ lands near the bottom at #10. Their 12-month results are close: -20.2% for TLN against -16.1% for VXZ. Risk is not evenly split, since TLN carries 1.9 times the volatility of the other side.
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.
TLN vs VXZ: side by side
| TLN (Talen Energy Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -20.2% | -16.1% |
| 5-year return | n/a | -53.1% |
| Volatility (ann.) | 47.4% | 25.6% |
| Beta vs S&P 500 | 1.39 | -1.31 |
| Max drawdown (3Y) | -33.8% | -36.4% |
| Market cap | $14.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TLN | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | – | -44.0% |
| 2024 | +214.8% | -12.7% |
| 2025 | +86.1% | +5.7% |
| 2026 | -18.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TLN and VXZ good diversifiers for each other?
Yes. With a correlation of -0.30, TLN and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TLN and VXZ?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.22 over the last year and n/a over 5 years.
Is VXZ a good diversifier for TLN?
Yes. With a correlation of -0.30, TLN and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tln-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tln-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TLN correlations · VXZ correlations
