V vs VXZ: Correlation
How closely do Visa Inc. (V) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.44, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are V and VXZ?
On 3 years of weekly data the V/VXZ correlation comes out at -0.44, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.44) sits close to the 3-year figure. The 5-year figure is -0.49, and annualized covariance runs at -212.4 %².
Among the 32 assets we track against V, VXZ sits near the bottom by co-movement, at rank #32. Their recent paths diverged sharply: over the last 12 months V outperformed by 25.3 percentage points (+9.2% for V 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.
V vs VXZ: side by side
| V (Visa Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +9.2% | -16.1% |
| 5-year return | +70.5% | -53.1% |
| Volatility (ann.) | 19.1% | 25.6% |
| Beta vs S&P 500 | 0.72 | -1.31 |
| Max drawdown (3Y) | -20.4% | -36.4% |
| Market cap | $708.8B | – |
| P/E (trailing) | 32.7 | – |
| Dividend yield | 0.70% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | V | VXZ |
|---|---|---|
| 2022 | -3.4% | +0.5% |
| 2023 | +26.3% | -44.0% |
| 2024 | +22.3% | -12.7% |
| 2025 | +11.8% | +5.7% |
| 2026 | +8.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are V and VXZ good diversifiers for each other?
Yes. With a correlation of -0.44, V and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between V and VXZ?
Using weekly returns as of 2026-08-27: -0.44 over 3 years, with -0.44 over the last year and -0.49 over 5 years.
Is VXZ a good diversifier for V?
Yes. With a correlation of -0.44, V and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.44 mean?
On the −1 to +1 scale, -0.44 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/v-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/v-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: V correlations · VXZ correlations
