VXZ vs WEAV: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Weave Communications, Inc. (WEAV) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WEAV?
On 3 years of weekly data the VXZ/WEAV correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.31) sits close to the 3-year figure. The 5-year figure is -0.35, and annualized covariance runs at -556.6 %².
Within VXZ's tracked universe of 2840 assets, WEAV comes in at #1637 by 3-year correlation. On 12-month performance WEAV holds a 10.3-point edge, -16.1% against -5.8%. One caveat on sizing: WEAV is 2.3 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 WEAV: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WEAV (Weave Communications, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | -5.8% |
| 5-year return | -53.1% | -61.1% |
| Volatility (ann.) | 25.6% | 58.9% |
| Beta vs S&P 500 | -1.31 | 1.62 |
| Max drawdown (3Y) | -36.4% | -74.9% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WEAV |
|---|---|---|
| 2022 | +0.5% | -69.8% |
| 2023 | -44.0% | +150.4% |
| 2024 | -12.7% | +38.8% |
| 2025 | +5.7% | -52.3% |
| 2026 | -10.5% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WEAV good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VXZ and WEAV?
The VXZ/WEAV correlation stands at -0.37 on a 3-year window (1 year: -0.31, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is WEAV a good diversifier for VXZ?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 mean?
A reading of -0.37 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-weav.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/vxz-vs-weav/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VXZ correlations · WEAV correlations
