VLO vs VXZ: Correlation
Measured on weekly returns over the past three years, Valero Energy (VLO) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VLO and VXZ?
Over the past 3 years, VLO and VXZ moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.15) than the 3-year average (-0.29). Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -261.6 %².
VXZ is close to the least connected end of VLO's tracked universe, ranking #28 of 28. Their recent paths diverged sharply: over the last 12 months VLO outperformed by 150.9 percentage points (+134.8% for VLO 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.
VLO vs VXZ: side by side
| VLO (Valero Energy) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +134.8% | -16.1% |
| 5-year return | +512.9% | -53.1% |
| Volatility (ann.) | 34.8% | 25.6% |
| Beta vs S&P 500 | 0.55 | -1.31 |
| Max drawdown (3Y) | -41.2% | -36.4% |
| Market cap | $99.8B | – |
| P/E (trailing) | 14.5 | – |
| Dividend yield | 1.34% | – |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | VLO | VXZ |
|---|---|---|
| 2022 | +75.0% | +0.5% |
| 2023 | +5.9% | -44.0% |
| 2024 | -3.0% | -12.7% |
| 2025 | +37.0% | +5.7% |
| 2026 | +116.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VLO and VXZ good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VLO and VXZ?
As of 2026-08-27, the correlation of weekly returns between VLO and VXZ is -0.29 over 3 years, 0.15 over 1 year and -0.25 over 5 years.
Is VXZ a good diversifier for VLO?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
A reading of -0.29 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/vlo-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vlo-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VLO correlations · VXZ correlations
