VERA vs VXZ: Correlation
Measured on weekly returns over the past three years, Vera Therapeutics, Inc. (VERA) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VERA and VXZ?
Over the past 3 years, VERA and VXZ moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.40) runs below the 3-year figure (-0.25). Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -566.4 %².
Among the 12 assets we track against VERA, VXZ sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months VERA outperformed by 73.2 percentage points (+57.1% for VERA against -16.1% for VXZ). One caveat on sizing: VERA is 3.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
VERA vs VXZ: side by side
| VERA (Vera Therapeutics, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +57.1% | -16.1% |
| 5-year return | +133.8% | -53.1% |
| Volatility (ann.) | 87.9% | 25.6% |
| Beta vs S&P 500 | 1.47 | -1.31 |
| Max drawdown (3Y) | -62.1% | -36.4% |
| Market cap | $2.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VERA | VXZ |
|---|---|---|
| 2022 | -27.6% | +0.5% |
| 2023 | -20.5% | -44.0% |
| 2024 | +175.0% | -12.7% |
| 2025 | +19.7% | +5.7% |
| 2026 | -31.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VERA and VXZ good diversifiers for each other?
Yes. With a correlation of -0.25, VERA and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VERA and VXZ?
The VERA/VXZ correlation stands at -0.25 on a 3-year window (1 year: -0.40, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for VERA?
Yes. With a correlation of -0.25, VERA and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/vera-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vera-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VERA correlations · VXZ correlations
