URI vs VXZ: Correlation
Measured on weekly returns over the past three years, United Rentals (URI) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.49, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are URI and VXZ?
Across a 3-year window, the weekly returns of URI and VXZ correlate at -0.49, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.18 versus -0.49 over 3 years. Stretching to 5 years gives -0.56, with an annualized covariance of -499.2 %².
Out of 37 assets tracked against URI, VXZ lands near the bottom at #37. The last year tells two different stories: URI led by 26.3 percentage points, +10.2% for URI against -16.1% for VXZ. Risk is not evenly split, since URI carries 1.5 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.
URI vs VXZ: side by side
| URI (United Rentals) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +10.2% | -16.1% |
| 5-year return | +204.1% | -53.1% |
| Volatility (ann.) | 39.5% | 25.6% |
| Beta vs S&P 500 | 1.42 | -1.31 |
| Max drawdown (3Y) | -37.0% | -36.4% |
| Market cap | $64.6B | – |
| P/E (trailing) | 25.4 | – |
| Dividend yield | 0.71% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | URI | VXZ |
|---|---|---|
| 2022 | +7.0% | +0.5% |
| 2023 | +63.6% | -44.0% |
| 2024 | +24.0% | -12.7% |
| 2025 | +15.9% | +5.7% |
| 2026 | +29.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are URI and VXZ good diversifiers for each other?
Yes: at -0.49, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between URI and VXZ?
The URI/VXZ correlation stands at -0.49 on a 3-year window (1 year: -0.18, 5 years: -0.56), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for URI?
Yes: at -0.49, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.49 mean?
On the −1 to +1 scale, -0.49 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/uri-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/uri-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: URI correlations · VXZ correlations
