VFF vs VXZ: Correlation
Measured on weekly returns over the past three years, Village Farms International, Inc. (VFF) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VFF and VXZ?
Over the past 3 years, VFF and VXZ moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.16) runs above the 3-year figure (-0.27). Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -537.7 %².
Out of 13 assets tracked against VFF, VXZ lands near the bottom at #12. Over the last 12 months VFF came out ahead by 10.5 percentage points (-5.6% against -16.1%). Risk is not evenly split, since VFF carries 3.1 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.
VFF vs VXZ: side by side
| VFF (Village Farms International, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -5.6% | -16.1% |
| 5-year return | -69.7% | -53.1% |
| Volatility (ann.) | 78.2% | 25.6% |
| Beta vs S&P 500 | 1.61 | -1.31 |
| Max drawdown (3Y) | -68.6% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 15.9 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VFF | VXZ |
|---|---|---|
| 2022 | -79.1% | +0.5% |
| 2023 | -43.2% | -44.0% |
| 2024 | +1.3% | -12.7% |
| 2025 | +373.4% | +5.7% |
| 2026 | -21.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VFF and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between VFF and VXZ?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.16 over the last year and -0.25 over 5 years.
Is VXZ a good diversifier for VFF?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
A reading of -0.27 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/vff-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vff-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VFF correlations · VXZ correlations
