UEIC vs VXZ: Correlation
How closely do Universal Electronics Inc. (UEIC) 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 UEIC and VXZ?
On 3 years of weekly data the UEIC/VXZ correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.17) runs above the 3-year figure (-0.29). The 5-year figure is -0.29, and annualized covariance runs at -423.6 %².
Out of 10 assets tracked against UEIC, VXZ lands near the bottom at #10. Over the last 12 months UEIC came out ahead by 6.6 percentage points (-9.5% against -16.1%). Risk is not evenly split, since UEIC carries 2.2 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.
UEIC vs VXZ: side by side
| UEIC (Universal Electronics Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -9.5% | -16.1% |
| 5-year return | -91.0% | -53.1% |
| Volatility (ann.) | 56.2% | 25.6% |
| Beta vs S&P 500 | 0.79 | -1.31 |
| Max drawdown (3Y) | -79.8% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | UEIC | VXZ |
|---|---|---|
| 2022 | -48.9% | +0.5% |
| 2023 | -54.9% | -44.0% |
| 2024 | +17.1% | -12.7% |
| 2025 | -67.2% | +5.7% |
| 2026 | +25.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UEIC and VXZ good diversifiers for each other?
Yes. With a correlation of -0.29, UEIC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between UEIC and VXZ?
The UEIC/VXZ correlation stands at -0.29 on a 3-year window (1 year: -0.17, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for UEIC?
Yes. With a correlation of -0.29, UEIC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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/ueic-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ueic-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: UEIC correlations · VXZ correlations
