VBNK vs VXZ: Correlation
VersaBank (VBNK) 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 -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VBNK and VXZ?
On 3 years of weekly data the VBNK/VXZ correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.43) sits close to the 3-year figure. The 5-year figure is -0.30, and annualized covariance runs at -340.1 %².
Out of 10 assets tracked against VBNK, VXZ lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with VBNK ahead by 99.2 points (+83.1% versus -16.1%). Risk is not evenly split, since VBNK 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.
VBNK vs VXZ: side by side
| VBNK (VersaBank) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +83.1% | -16.1% |
| 5-year return | +102.0% | -53.1% |
| Volatility (ann.) | 40.6% | 25.6% |
| Beta vs S&P 500 | 0.80 | -1.31 |
| Max drawdown (3Y) | -50.5% | -36.4% |
| Market cap | $0.7B | – |
| P/E (trailing) | 30.1 | – |
| Dividend yield | 0.50% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VBNK | VXZ |
|---|---|---|
| 2022 | -36.2% | +0.5% |
| 2023 | +47.0% | -44.0% |
| 2024 | +27.3% | -12.7% |
| 2025 | +8.8% | +5.7% |
| 2026 | +37.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VBNK and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between VBNK and VXZ?
The VBNK/VXZ correlation stands at -0.33 on a 3-year window (1 year: -0.43, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for VBNK?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
What does a correlation of -0.33 mean?
On the −1 to +1 scale, -0.33 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/vbnk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vbnk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VBNK correlations · VXZ correlations
