VRA vs VXZ: Correlation
How closely do Vera Bradley, Inc. (VRA) 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 -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VRA and VXZ?
On 3 years of weekly data the VRA/VXZ correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.14) than the 3-year average (-0.26). The 5-year figure is -0.30, and annualized covariance runs at -415.6 %².
Out of 11 assets tracked against VRA, VXZ lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with VRA ahead by 77.5 points (+61.4% versus -16.1%). One caveat on sizing: VRA is 2.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
VRA vs VXZ: side by side
| VRA (Vera Bradley, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +61.4% | -16.1% |
| 5-year return | -71.6% | -53.1% |
| Volatility (ann.) | 61.5% | 25.6% |
| Beta vs S&P 500 | 1.11 | -1.31 |
| Max drawdown (3Y) | -78.8% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VRA | VXZ |
|---|---|---|
| 2022 | -46.8% | +0.5% |
| 2023 | +70.0% | -44.0% |
| 2024 | -49.0% | -12.7% |
| 2025 | -38.4% | +5.7% |
| 2026 | +38.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VRA and VXZ good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VRA and VXZ?
As of 2026-08-27, the correlation of weekly returns between VRA and VXZ is -0.26 over 3 years, -0.14 over 1 year and -0.30 over 5 years.
Is VXZ a good diversifier for VRA?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/vra-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vra-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VRA correlations · VXZ correlations
