URG vs VXZ: Correlation
Ur Energy Inc (URG) 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 -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are URG and VXZ?
On 3 years of weekly data the URG/VXZ correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. The 5-year figure is -0.27, and annualized covariance runs at -367.5 %².
Out of 12 assets tracked against URG, VXZ lands near the bottom at #10. The last year tells two different stories: URG led by 28.6 percentage points, +12.5% for URG against -16.1% for VXZ. Risk is not evenly split, since URG carries 2.3 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.
URG vs VXZ: side by side
| URG (Ur Energy Inc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +12.5% | -16.1% |
| 5-year return | +26.4% | -53.1% |
| Volatility (ann.) | 59.1% | 25.6% |
| Beta vs S&P 500 | 1.21 | -1.31 |
| Max drawdown (3Y) | -72.1% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | URG | VXZ |
|---|---|---|
| 2022 | -5.7% | +0.5% |
| 2023 | +33.9% | -44.0% |
| 2024 | -25.3% | -12.7% |
| 2025 | +20.9% | +5.7% |
| 2026 | +10.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are URG and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between URG and VXZ?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.25 over the last year and -0.27 over 5 years.
Is VXZ a good diversifier for URG?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/urg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/urg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: URG correlations · VXZ correlations
