VXZ vs WABC: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Westamerica Bancorporation (WABC) carry a correlation of -0.50, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WABC?
On 3 years of weekly data the VXZ/WABC correlation comes out at -0.50, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.29) than the 3-year average (-0.50). The 5-year figure is -0.43, and annualized covariance runs at -315.5 %².
By 3-year correlation, WABC places #2523 of the 2840 assets tracked against VXZ. Correlation aside, the last 12 months split them widely, with WABC ahead by 35.9 points (-16.1% versus +19.8%).
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 WABC: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WABC (Westamerica Bancorporation) | |
|---|---|---|
| 1-year return | -16.1% | +19.8% |
| 5-year return | -53.1% | +22.6% |
| Volatility (ann.) | 25.6% | 24.4% |
| Beta vs S&P 500 | -1.31 | 0.61 |
| Max drawdown (3Y) | -36.4% | -24.7% |
| Market cap | – | $1.3B |
| P/E (trailing) | – | 12.9 |
| Dividend yield | – | 3.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WABC |
|---|---|---|
| 2022 | +0.5% | +5.2% |
| 2023 | -44.0% | -0.8% |
| 2024 | -12.7% | -3.6% |
| 2025 | +5.7% | -5.4% |
| 2026 | -10.5% | +24.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WABC good diversifiers for each other?
By historical standards, yes. A correlation of -0.50 means the two rarely move for the same reasons.
FAQ
What is the correlation between VXZ and WABC?
As of 2026-08-27, the correlation of weekly returns between VXZ and WABC is -0.50 over 3 years, -0.29 over 1 year and -0.43 over 5 years.
Is WABC a good diversifier for VXZ?
By historical standards, yes. A correlation of -0.50 means the two rarely move for the same reasons.
What does a correlation of -0.50 mean?
A reading of -0.50 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/vxz-vs-wabc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxz-vs-wabc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VXZ correlations · WABC correlations
