TRDA vs VXZ: Correlation
How closely do Entrada Therapeutics, Inc. (TRDA) 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 -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TRDA and VXZ?
Over the past 3 years, TRDA and VXZ moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.12) runs above the 3-year figure (-0.32). Over 5 years the correlation is -0.21, and the annualized covariance of weekly returns is -557.5 %².
Among the 10 assets we track against TRDA, VXZ sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months TRDA outperformed by 44.1 percentage points (+28.0% for TRDA against -16.1% for VXZ). Risk is not evenly split, since TRDA carries 2.7 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.
TRDA vs VXZ: side by side
| TRDA (Entrada Therapeutics, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +28.0% | -16.1% |
| 5-year return | -69.6% | -53.1% |
| Volatility (ann.) | 69.2% | 25.6% |
| Beta vs S&P 500 | 1.19 | -1.31 |
| Max drawdown (3Y) | -76.7% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TRDA | VXZ |
|---|---|---|
| 2022 | -21.0% | +0.5% |
| 2023 | +11.6% | -44.0% |
| 2024 | +14.6% | -12.7% |
| 2025 | -40.5% | +5.7% |
| 2026 | -29.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TRDA and VXZ good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TRDA and VXZ?
As of 2026-08-27, the correlation of weekly returns between TRDA and VXZ is -0.32 over 3 years, -0.12 over 1 year and -0.21 over 5 years.
Is VXZ a good diversifier for TRDA?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 mean?
A reading of -0.32 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/trda-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/trda-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TRDA correlations · VXZ correlations
