TVTX vs VXZ: Correlation
Travere Therapeutics, Inc. (TVTX) 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 -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TVTX and VXZ?
Across a 3-year window, the weekly returns of TVTX and VXZ correlate at -0.26, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.17 over 1 year against -0.26 over 3. Stretching to 5 years gives -0.21, with an annualized covariance of -474.6 %².
VXZ is close to the least connected end of TVTX's tracked universe, ranking #10 of 12. Their recent paths diverged sharply: over the last 12 months TVTX outperformed by 303.3 percentage points (+287.2% for TVTX against -16.1% for VXZ). One caveat on sizing: TVTX is 2.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
TVTX vs VXZ: side by side
| TVTX (Travere Therapeutics, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +287.2% | -16.1% |
| 5-year return | +213.8% | -53.1% |
| Volatility (ann.) | 72.5% | 25.6% |
| Beta vs S&P 500 | 1.67 | -1.31 |
| Max drawdown (3Y) | -64.6% | -36.4% |
| Market cap | $6.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TVTX | VXZ |
|---|---|---|
| 2022 | -32.2% | +0.5% |
| 2023 | -57.3% | -44.0% |
| 2024 | +93.8% | -12.7% |
| 2025 | +119.3% | +5.7% |
| 2026 | +76.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TVTX and VXZ good diversifiers for each other?
Yes. With a correlation of -0.26, TVTX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TVTX and VXZ?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.17 over the last year and -0.21 over 5 years.
Is VXZ a good diversifier for TVTX?
Yes. With a correlation of -0.26, TVTX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
A reading of -0.26 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/tvtx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tvtx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TVTX correlations · VXZ correlations
