VXZ vs WASH: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Washington Trust Bancorp, Inc. (WASH) carry a correlation of -0.51, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WASH?
Over the past 3 years, VXZ and WASH moved with a correlation of -0.51, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.31) runs above the 3-year figure (-0.51). Over 5 years the correlation is -0.45, and the annualized covariance of weekly returns is -454.3 %².
Within VXZ's tracked universe of 2840 assets, WASH comes in at #2559 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WASH outperformed by 56.2 percentage points (-16.1% for VXZ against +40.1% for WASH).
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 WASH: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WASH (Washington Trust Bancorp, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | +40.1% |
| 5-year return | -53.1% | +4.8% |
| Volatility (ann.) | 25.6% | 34.9% |
| Beta vs S&P 500 | -1.31 | 1.04 |
| Max drawdown (3Y) | -36.4% | -32.3% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 13.7 |
| Dividend yield | – | 5.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WASH |
|---|---|---|
| 2022 | +0.5% | -12.5% |
| 2023 | -44.0% | -26.1% |
| 2024 | -12.7% | +2.7% |
| 2025 | +5.7% | +1.7% |
| 2026 | -10.5% | +41.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WASH good diversifiers for each other?
Yes. With a correlation of -0.51, VXZ and WASH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXZ and WASH?
The VXZ/WASH correlation stands at -0.51 on a 3-year window (1 year: -0.31, 5 years: -0.45), computed from weekly returns as of 2026-08-27.
Is WASH a good diversifier for VXZ?
Yes. With a correlation of -0.51, VXZ and WASH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.51 mean?
A reading of -0.51 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-wash.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/vxz-vs-wash/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VXZ correlations · WASH correlations
