UPBD vs VXZ: Correlation
Upbound Group, Inc. (UPBD) 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 -0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UPBD and VXZ?
Across a 3-year window, the weekly returns of UPBD and VXZ correlate at -0.41, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.41) sits close to the 3-year figure. Stretching to 5 years gives -0.39, with an annualized covariance of -434.3 %².
Out of 19 assets tracked against UPBD, VXZ lands near the bottom at #19. Neither side won the trailing year by much: -19.8% against -16.1%. Risk is not evenly split, since UPBD carries 1.6 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.
UPBD vs VXZ: side by side
| UPBD (Upbound Group, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -19.8% | -16.1% |
| 5-year return | -60.7% | -53.1% |
| Volatility (ann.) | 41.4% | 25.6% |
| Beta vs S&P 500 | 1.23 | -1.31 |
| Max drawdown (3Y) | -54.2% | -36.4% |
| Market cap | $1.1B | – |
| P/E (trailing) | 12.6 | – |
| Dividend yield | 8.02% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | UPBD | VXZ |
|---|---|---|
| 2022 | -49.9% | +0.5% |
| 2023 | +57.9% | -44.0% |
| 2024 | -10.1% | -12.7% |
| 2025 | -35.4% | +5.7% |
| 2026 | +14.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UPBD and VXZ good diversifiers for each other?
Yes. With a correlation of -0.41, UPBD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between UPBD and VXZ?
Using weekly returns as of 2026-08-27: -0.41 over 3 years, with -0.41 over the last year and -0.39 over 5 years.
Is VXZ a good diversifier for UPBD?
Yes. With a correlation of -0.41, UPBD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 mean?
A reading of -0.41 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/upbd-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/upbd-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: UPBD correlations · VXZ correlations
