VXZ vs VYGR: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Voyager Therapeutics, Inc. (VYGR) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and VYGR?
On 3 years of weekly data the VXZ/VYGR correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.05) than the 3-year average (-0.22). The 5-year figure is -0.20, and annualized covariance runs at -333.5 %².
Among the 2840 assets we track against VXZ, VYGR ranks #161 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VYGR ahead by 17.3 points (-16.1% versus +1.2%). One caveat on sizing: VYGR 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.
VXZ vs VYGR: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | VYGR (Voyager Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | +1.2% |
| 5-year return | -53.1% | +7.5% |
| Volatility (ann.) | 25.6% | 60.2% |
| Beta vs S&P 500 | -1.31 | 1.35 |
| Max drawdown (3Y) | -36.4% | -74.8% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | VYGR |
|---|---|---|
| 2022 | +0.5% | +125.1% |
| 2023 | -44.0% | +38.4% |
| 2024 | -12.7% | -32.8% |
| 2025 | +5.7% | -30.7% |
| 2026 | -10.5% | -12.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and VYGR good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between VXZ and VYGR?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.05 over the last year and -0.20 over 5 years.
Is VYGR a good diversifier for VXZ?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 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/vxz-vs-vygr.json
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Related comparisons
Hubs: VXZ correlations · VYGR correlations
