TYL vs VXZ: Correlation
Measured on weekly returns over the past three years, Tyler Technologies (TYL) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TYL and VXZ?
Over the past 3 years, TYL and VXZ moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.19) than the 3-year average (-0.30). Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -230.7 %².
Among the 33 assets we track against TYL, VXZ sits near the bottom by co-movement, at rank #33. The last year tells two different stories: VXZ led by 17.9 percentage points, -34.0% for TYL against -16.1% for VXZ.
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.
TYL vs VXZ: side by side
| TYL (Tyler Technologies) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -34.0% | -16.1% |
| 5-year return | -22.5% | -53.1% |
| Volatility (ann.) | 29.6% | 25.6% |
| Beta vs S&P 500 | 0.61 | -1.31 |
| Max drawdown (3Y) | -57.4% | -36.4% |
| Market cap | $15.1B | – |
| P/E (trailing) | 46.3 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | TYL | VXZ |
|---|---|---|
| 2022 | -40.1% | +0.5% |
| 2023 | +29.7% | -44.0% |
| 2024 | +37.9% | -12.7% |
| 2025 | -21.3% | +5.7% |
| 2026 | -18.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TYL and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between TYL and VXZ?
The TYL/VXZ correlation stands at -0.30 on a 3-year window (1 year: -0.19, 5 years: -0.37), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for TYL?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
A reading of -0.30 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/tyl-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tyl-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TYL correlations · VXZ correlations
