TRNS vs VXZ: Correlation
How closely do Transcat, Inc. (TRNS) 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 -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TRNS and VXZ?
On 3 years of weekly data the TRNS/VXZ correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.37 over 1 year against -0.29 over 3. The 5-year figure is -0.29, and annualized covariance runs at -370.3 %².
VXZ is close to the least connected end of TRNS's tracked universe, ranking #9 of 10. The last year tells two different stories: TRNS led by 23.8 percentage points, +7.7% for TRNS against -16.1% for VXZ. Risk is not evenly split, since TRNS carries 2.0 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.
TRNS vs VXZ: side by side
| TRNS (Transcat, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +7.7% | -16.1% |
| 5-year return | +35.0% | -53.1% |
| Volatility (ann.) | 50.0% | 25.6% |
| Beta vs S&P 500 | 1.03 | -1.31 |
| Max drawdown (3Y) | -63.9% | -36.4% |
| Market cap | $0.8B | – |
| P/E (trailing) | 249.6 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TRNS | VXZ |
|---|---|---|
| 2022 | -23.3% | +0.5% |
| 2023 | +54.3% | -44.0% |
| 2024 | -3.3% | -12.7% |
| 2025 | -46.3% | +5.7% |
| 2026 | +58.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TRNS and VXZ good diversifiers for each other?
Yes. With a correlation of -0.29, TRNS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TRNS and VXZ?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.37 over the last year and -0.29 over 5 years.
Is VXZ a good diversifier for TRNS?
Yes. With a correlation of -0.29, TRNS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
A reading of -0.29 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/trns-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/trns-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TRNS correlations · VXZ correlations
