TWST vs VXZ: Correlation
Measured on weekly returns over the past three years, Twist Bioscience Corporation (TWST) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.43, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TWST and VXZ?
Over the past 3 years, TWST and VXZ moved with a correlation of -0.43, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.37 lands near the 3-year figure. Over 5 years the correlation is -0.43, and the annualized covariance of weekly returns is -830.1 %².
Among the 14 assets we track against TWST, VXZ sits near the bottom by co-movement, at rank #14. The last year tells two different stories: TWST led by 479.2 percentage points, +463.1% for TWST against -16.1% for VXZ. Note the risk asymmetry: TWST runs 3.0 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.
TWST vs VXZ: side by side
| TWST (Twist Bioscience Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +463.1% | -16.1% |
| 5-year return | +39.8% | -53.1% |
| Volatility (ann.) | 76.1% | 25.6% |
| Beta vs S&P 500 | 2.21 | -1.31 |
| Max drawdown (3Y) | -59.0% | -36.4% |
| Market cap | $9.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TWST | VXZ |
|---|---|---|
| 2022 | -69.2% | +0.5% |
| 2023 | +54.8% | -44.0% |
| 2024 | +26.1% | -12.7% |
| 2025 | -31.7% | +5.7% |
| 2026 | +382.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TWST and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
FAQ
What is the correlation between TWST and VXZ?
As of 2026-08-27, the correlation of weekly returns between TWST and VXZ is -0.43 over 3 years, -0.37 over 1 year and -0.43 over 5 years.
Is VXZ a good diversifier for TWST?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
What does a correlation of -0.43 mean?
On the −1 to +1 scale, -0.43 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/twst-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/twst-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TWST correlations · VXZ correlations
