TREX vs VXZ: Correlation
Measured on weekly returns over the past three years, Trex Company, Inc. (TREX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TREX and VXZ?
On 3 years of weekly data the TREX/VXZ correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.42 over 1 year against -0.37 over 3. The 5-year figure is -0.40, and annualized covariance runs at -431.3 %².
Out of 24 assets tracked against TREX, VXZ lands near the bottom at #24. The trailing year gives VXZ the advantage: -27.3% versus -16.1%, a 11.2-point spread. Risk is not evenly split, since TREX carries 1.8 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.
TREX vs VXZ: side by side
| TREX (Trex Company, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -27.3% | -16.1% |
| 5-year return | -58.7% | -53.1% |
| Volatility (ann.) | 45.3% | 25.6% |
| Beta vs S&P 500 | 1.48 | -1.31 |
| Max drawdown (3Y) | -69.9% | -36.4% |
| Market cap | $4.7B | – |
| P/E (trailing) | 27.4 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TREX | VXZ |
|---|---|---|
| 2022 | -68.7% | +0.5% |
| 2023 | +95.6% | -44.0% |
| 2024 | -16.6% | -12.7% |
| 2025 | -49.2% | +5.7% |
| 2026 | +31.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TREX and VXZ good diversifiers for each other?
Yes. With a correlation of -0.37, TREX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TREX and VXZ?
The TREX/VXZ correlation stands at -0.37 on a 3-year window (1 year: -0.42, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for TREX?
Yes. With a correlation of -0.37, TREX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.37 mean?
A reading of -0.37 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/trex-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/trex-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TREX correlations · VXZ correlations
