VXZ vs WDC: Correlation
How closely do iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Western Digital (WDC) trade together? Their weekly returns over three years give a correlation of -0.44, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WDC?
Over the past 3 years, VXZ and WDC moved with a correlation of -0.44, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.27) than the 3-year average (-0.44). Over 5 years the correlation is -0.42, and the annualized covariance of weekly returns is -647.6 %².
By 3-year correlation, WDC places #2213 of the 2840 assets tracked against VXZ. The last year tells two different stories: WDC led by 490.4 percentage points, -16.1% for VXZ against +474.3% for WDC. Risk is not evenly split, since WDC carries 2.3 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.
VXZ vs WDC: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WDC (Western Digital) | |
|---|---|---|
| 1-year return | -16.1% | +474.3% |
| 5-year return | -53.1% | +889.2% |
| Volatility (ann.) | 25.6% | 58.0% |
| Beta vs S&P 500 | -1.31 | 2.15 |
| Max drawdown (3Y) | -36.4% | -49.6% |
| Market cap | – | $166.6B |
| P/E (trailing) | – | 17.4 |
| Dividend yield | – | 0.11% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | VXZ | WDC |
|---|---|---|
| 2022 | +0.5% | -51.6% |
| 2023 | -44.0% | +66.0% |
| 2024 | -12.7% | +13.9% |
| 2025 | +5.7% | +283.7% |
| 2026 | -10.5% | +168.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WDC good diversifiers for each other?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VXZ and WDC?
The VXZ/WDC correlation stands at -0.44 on a 3-year window (1 year: -0.27, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is WDC a good diversifier for VXZ?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.44 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-wdc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/vxz-vs-wdc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VXZ correlations · WDC correlations
