TPR vs VXZ: Correlation
Tapestry, Inc. (TPR) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TPR and VXZ?
Over the past 3 years, TPR and VXZ moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.36 over 3. Over 5 years the correlation is -0.42, and the annualized covariance of weekly returns is -351.8 %².
Out of 36 assets tracked against TPR, VXZ lands near the bottom at #35. The last year tells two different stories: TPR led by 39.7 percentage points, +23.6% for TPR 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.
TPR vs VXZ: side by side
| TPR (Tapestry, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +23.6% | -16.1% |
| 5-year return | +240.1% | -53.1% |
| Volatility (ann.) | 37.8% | 25.6% |
| Beta vs S&P 500 | 1.05 | -1.31 |
| Max drawdown (3Y) | -31.8% | -36.4% |
| Market cap | $24.6B | – |
| P/E (trailing) | 17.9 | – |
| Dividend yield | 1.23% | – |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | TPR | VXZ |
|---|---|---|
| 2022 | -3.3% | +0.5% |
| 2023 | +0.2% | -44.0% |
| 2024 | +82.8% | -12.7% |
| 2025 | +98.7% | +5.7% |
| 2026 | -3.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TPR 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 TPR and VXZ?
The TPR/VXZ correlation stands at -0.36 on a 3-year window (1 year: -0.32, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for TPR?
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?
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/tpr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tpr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TPR correlations · VXZ correlations
