VLTO vs VXZ: Correlation
How closely do Veralto (VLTO) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.44, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VLTO and VXZ?
On 3 years of weekly data the VLTO/VXZ correlation comes out at -0.44, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.42) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -240.2 %².
VXZ is close to the least connected end of VLTO's tracked universe, ranking #37 of 37. Over the last 12 months VLTO came out ahead by 8.2 percentage points (-7.9% against -16.1%).
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.
VLTO vs VXZ: side by side
| VLTO (Veralto) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -7.9% | -16.1% |
| 5-year return | n/a | -53.1% |
| Volatility (ann.) | 21.2% | 25.6% |
| Beta vs S&P 500 | 0.66 | -1.31 |
| Max drawdown (3Y) | -27.1% | -36.4% |
| Market cap | $24.0B | – |
| P/E (trailing) | 24.9 | – |
| Dividend yield | 0.51% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | VLTO | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | – | -44.0% |
| 2024 | +24.3% | -12.7% |
| 2025 | -1.6% | +5.7% |
| 2026 | -1.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VLTO and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between VLTO and VXZ?
Using weekly returns as of 2026-08-27: -0.44 over 3 years, with -0.42 over the last year and n/a over 5 years.
Is VXZ a good diversifier for VLTO?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 mean?
A reading of -0.44 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/vlto-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vlto-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VLTO correlations · VXZ correlations
