UHS vs VXZ: Correlation
How closely do Universal Health Services (UHS) 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 -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UHS and VXZ?
Over the past 3 years, UHS and VXZ moved with a correlation of -0.31, 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 (-0.31). Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -249.5 %².
VXZ is close to the least connected end of UHS's tracked universe, ranking #38 of 38. The trailing year gives UHS the advantage: -5.0% versus -16.1%, a 11.1-point spread.
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.
UHS vs VXZ: side by side
| UHS (Universal Health Services) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -5.0% | -16.1% |
| 5-year return | +13.5% | -53.1% |
| Volatility (ann.) | 31.1% | 25.6% |
| Beta vs S&P 500 | 0.60 | -1.31 |
| Max drawdown (3Y) | -42.0% | -36.4% |
| Market cap | $10.2B | – |
| P/E (trailing) | 7.3 | – |
| Dividend yield | 0.45% | – |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | UHS | VXZ |
|---|---|---|
| 2022 | +9.4% | +0.5% |
| 2023 | +8.8% | -44.0% |
| 2024 | +18.2% | -12.7% |
| 2025 | +22.0% | +5.7% |
| 2026 | -20.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UHS and VXZ good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between UHS and VXZ?
As of 2026-08-27, the correlation of weekly returns between UHS and VXZ is -0.31 over 3 years, -0.19 over 1 year and -0.32 over 5 years.
Is VXZ a good diversifier for UHS?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 mean?
A reading of -0.31 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/uhs-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/uhs-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: UHS correlations · VXZ correlations
