TTI vs VXZ: Correlation
How closely do Tetra Technologies, Inc. (TTI) 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 -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TTI and VXZ?
Across a 3-year window, the weekly returns of TTI and VXZ correlate at -0.25, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.14) runs above the 3-year figure (-0.25). Stretching to 5 years gives -0.27, with an annualized covariance of -379.6 %².
Out of 13 assets tracked against TTI, VXZ lands near the bottom at #12. Correlation aside, the last 12 months split them widely, with TTI ahead by 69.8 points (+53.7% versus -16.1%). Note the risk asymmetry: TTI runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
TTI vs VXZ: side by side
| TTI (Tetra Technologies, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +53.7% | -16.1% |
| 5-year return | +123.5% | -53.1% |
| Volatility (ann.) | 59.6% | 25.6% |
| Beta vs S&P 500 | 0.96 | -1.31 |
| Max drawdown (3Y) | -67.4% | -36.4% |
| Market cap | $1.0B | – |
| P/E (trailing) | 173.2 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TTI | VXZ |
|---|---|---|
| 2022 | +21.8% | +0.5% |
| 2023 | +30.6% | -44.0% |
| 2024 | -20.8% | -12.7% |
| 2025 | +161.7% | +5.7% |
| 2026 | -26.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TTI and VXZ good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TTI and VXZ?
The TTI/VXZ correlation stands at -0.25 on a 3-year window (1 year: -0.14, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for TTI?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tti-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tti-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TTI correlations · VXZ correlations
