UVE vs VXZ: Correlation
Measured on weekly returns over the past three years, UNIVERSAL INSURANCE HOLDINGS INC (UVE) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UVE and VXZ?
Across a 3-year window, the weekly returns of UVE and VXZ correlate at -0.24, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.05) runs above the 3-year figure (-0.24). Stretching to 5 years gives -0.26, with an annualized covariance of -209.5 %².
Out of 11 assets tracked against UVE, VXZ lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months UVE outperformed by 96.4 percentage points (+80.3% for UVE against -16.1% for VXZ).
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.
UVE vs VXZ: side by side
| UVE (UNIVERSAL INSURANCE HOLDINGS INC) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +80.3% | -16.1% |
| 5-year return | +277.8% | -53.1% |
| Volatility (ann.) | 33.5% | 25.6% |
| Beta vs S&P 500 | 0.36 | -1.31 |
| Max drawdown (3Y) | -25.7% | -36.4% |
| Market cap | $1.2B | – |
| P/E (trailing) | 5.7 | – |
| Dividend yield | 1.46% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | UVE | VXZ |
|---|---|---|
| 2022 | -33.5% | +0.5% |
| 2023 | +58.1% | -44.0% |
| 2024 | +36.8% | -12.7% |
| 2025 | +65.3% | +5.7% |
| 2026 | +29.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UVE 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 UVE and VXZ?
The UVE/VXZ correlation stands at -0.24 on a 3-year window (1 year: -0.05, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for UVE?
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?
A reading of -0.24 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/uve-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/uve-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: UVE correlations · VXZ correlations
