VIAV vs VXZ: Correlation
Measured on weekly returns over the past three years, Viavi Solutions Inc. (VIAV) 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 VIAV and VXZ?
Over the past 3 years, VIAV and VXZ moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.01 versus -0.25 over 3 years. Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -301.3 %².
Out of 11 assets tracked against VIAV, VXZ lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months VIAV outperformed by 261.3 percentage points (+245.2% for VIAV against -16.1% for VXZ). Note the risk asymmetry: VIAV runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
VIAV vs VXZ: side by side
| VIAV (Viavi Solutions Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +245.2% | -16.1% |
| 5-year return | +132.5% | -53.1% |
| Volatility (ann.) | 47.3% | 25.6% |
| Beta vs S&P 500 | 1.14 | -1.31 |
| Max drawdown (3Y) | -41.7% | -36.4% |
| Market cap | $9.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VIAV | VXZ |
|---|---|---|
| 2022 | -40.4% | +0.5% |
| 2023 | -4.2% | -44.0% |
| 2024 | +0.3% | -12.7% |
| 2025 | +76.4% | +5.7% |
| 2026 | +115.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VIAV and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between VIAV and VXZ?
As of 2026-08-27, the correlation of weekly returns between VIAV and VXZ is -0.25 over 3 years, 0.01 over 1 year and -0.26 over 5 years.
Is VXZ a good diversifier for VIAV?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
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/viav-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/viav-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VIAV correlations · VXZ correlations
