TMP vs VXZ: Correlation
How closely do Tompkins Financial Corporation (TMP) 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 -0.44, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TMP and VXZ?
Across a 3-year window, the weekly returns of TMP and VXZ correlate at -0.44, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.29 versus -0.44 over 3 years. Stretching to 5 years gives -0.42, with an annualized covariance of -358.7 %².
Out of 17 assets tracked against TMP, VXZ lands near the bottom at #17. Their recent paths diverged sharply: over the last 12 months TMP outperformed by 57.9 percentage points (+41.8% for TMP 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.
TMP vs VXZ: side by side
| TMP (Tompkins Financial Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +41.8% | -16.1% |
| 5-year return | +49.6% | -53.1% |
| Volatility (ann.) | 31.6% | 25.6% |
| Beta vs S&P 500 | 0.72 | -1.31 |
| Max drawdown (3Y) | -30.9% | -36.4% |
| Market cap | $1.4B | – |
| P/E (trailing) | 8.0 | – |
| Dividend yield | 2.68% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TMP | VXZ |
|---|---|---|
| 2022 | -4.4% | +0.5% |
| 2023 | -19.2% | -44.0% |
| 2024 | +17.8% | -12.7% |
| 2025 | +11.1% | +5.7% |
| 2026 | +37.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TMP and VXZ good diversifiers for each other?
Yes. With a correlation of -0.44, TMP and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TMP and VXZ?
As of 2026-08-27, the correlation of weekly returns between TMP and VXZ is -0.44 over 3 years, -0.29 over 1 year and -0.42 over 5 years.
Is VXZ a good diversifier for TMP?
Yes. With a correlation of -0.44, TMP and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.44 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tmp-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tmp-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TMP correlations · VXZ correlations
