VNDA vs VXZ: Correlation
Measured on weekly returns over the past three years, Vanda Pharmaceuticals Inc. (VNDA) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VNDA and VXZ?
On 3 years of weekly data the VNDA/VXZ correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.20 lands near the 3-year figure. The 5-year figure is -0.17, and annualized covariance runs at -320.3 %².
Out of 13 assets tracked against VNDA, VXZ lands near the bottom at #12. Correlation aside, the last 12 months split them widely, with VNDA ahead by 33.8 points (+17.7% versus -16.1%). Risk is not evenly split, since VNDA carries 2.5 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.
VNDA vs VXZ: side by side
| VNDA (Vanda Pharmaceuticals Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +17.7% | -16.1% |
| 5-year return | -67.8% | -53.1% |
| Volatility (ann.) | 63.1% | 25.6% |
| Beta vs S&P 500 | 0.55 | -1.31 |
| Max drawdown (3Y) | -48.4% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VNDA | VXZ |
|---|---|---|
| 2022 | -52.9% | +0.5% |
| 2023 | -42.9% | -44.0% |
| 2024 | +13.5% | -12.7% |
| 2025 | +84.1% | +5.7% |
| 2026 | -38.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VNDA and VXZ good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VNDA and VXZ?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.20 over the last year and -0.17 over 5 years.
Is VXZ a good diversifier for VNDA?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/vnda-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vnda-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VNDA correlations · VXZ correlations
