ULH vs VXZ: Correlation
Universal Logistics Holdings, Inc. (ULH) 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 -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ULH and VXZ?
Across a 3-year window, the weekly returns of ULH and VXZ correlate at -0.34, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.18) runs above the 3-year figure (-0.34). Stretching to 5 years gives -0.33, with an annualized covariance of -599.1 %².
VXZ is close to the least connected end of ULH's tracked universe, ranking #15 of 15. Over the last 12 months VXZ came out ahead by 9.9 percentage points (-26.0% against -16.1%). One caveat on sizing: ULH is 2.7 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.
ULH vs VXZ: side by side
| ULH (Universal Logistics Holdings, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -26.0% | -16.1% |
| 5-year return | -5.6% | -53.1% |
| Volatility (ann.) | 68.3% | 25.6% |
| Beta vs S&P 500 | 1.46 | -1.31 |
| Max drawdown (3Y) | -76.1% | -36.4% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.19% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ULH | VXZ |
|---|---|---|
| 2022 | +79.9% | +0.5% |
| 2023 | -14.9% | -44.0% |
| 2024 | +65.6% | -12.7% |
| 2025 | -66.3% | +5.7% |
| 2026 | +26.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ULH and VXZ good diversifiers for each other?
Yes. With a correlation of -0.34, ULH and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ULH and VXZ?
As of 2026-08-27, the correlation of weekly returns between ULH and VXZ is -0.34 over 3 years, -0.18 over 1 year and -0.33 over 5 years.
Is VXZ a good diversifier for ULH?
Yes. With a correlation of -0.34, ULH and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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/ulh-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ulh-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ULH correlations · VXZ correlations
