VMD vs VXZ: Correlation
How closely do Viemed Healthcare, Inc. (VMD) 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 -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VMD and VXZ?
Over the past 3 years, VMD and VXZ moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.09) runs above the 3-year figure (-0.32). Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -331.6 %².
Out of 12 assets tracked against VMD, VXZ lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months VMD outperformed by 41.6 percentage points (+25.5% for VMD against -16.1% for VXZ). Risk is not evenly split, since VMD carries 1.6 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.
VMD vs VXZ: side by side
| VMD (Viemed Healthcare, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +25.5% | -16.1% |
| 5-year return | +43.9% | -53.1% |
| Volatility (ann.) | 40.5% | 25.6% |
| Beta vs S&P 500 | 0.73 | -1.31 |
| Max drawdown (3Y) | -40.6% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 25.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VMD | VXZ |
|---|---|---|
| 2022 | +44.8% | +0.5% |
| 2023 | +3.8% | -44.0% |
| 2024 | +2.2% | -12.7% |
| 2025 | -7.4% | +5.7% |
| 2026 | +21.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VMD and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between VMD and VXZ?
Using weekly returns as of 2026-08-27: -0.32 over 3 years, with -0.09 over the last year and -0.25 over 5 years.
Is VXZ a good diversifier for VMD?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/vmd-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vmd-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VMD correlations · VXZ correlations
