VXZ vs WERN: Correlation
How closely do iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Werner Enterprises, Inc. (WERN) trade together? Their weekly returns over three years give a correlation of -0.39, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WERN?
On 3 years of weekly data the VXZ/WERN correlation comes out at -0.39, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.40 lands near the 3-year figure. The 5-year figure is -0.39, and annualized covariance runs at -301.1 %².
Within VXZ's tracked universe of 2840 assets, WERN comes in at #1836 by 3-year correlation. The last year tells two different stories: WERN led by 52.1 percentage points, -16.1% for VXZ against +36.0% for WERN.
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 WERN: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WERN (Werner Enterprises, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | +36.0% |
| 5-year return | -53.1% | -14.3% |
| Volatility (ann.) | 25.6% | 29.9% |
| Beta vs S&P 500 | -1.31 | 0.80 |
| Max drawdown (3Y) | -36.4% | -44.5% |
| Market cap | – | $2.3B |
| P/E (trailing) | – | – |
| Dividend yield | – | 1.44% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WERN |
|---|---|---|
| 2022 | +0.5% | -14.4% |
| 2023 | -44.0% | +6.6% |
| 2024 | -12.7% | -14.2% |
| 2025 | +5.7% | -14.9% |
| 2026 | -10.5% | +30.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WERN good diversifiers for each other?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VXZ and WERN?
As of 2026-08-27, the correlation of weekly returns between VXZ and WERN is -0.39 over 3 years, -0.40 over 1 year and -0.39 over 5 years.
Is WERN a good diversifier for VXZ?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.39 mean?
A reading of -0.39 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-wern.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxz-vs-wern/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VXZ correlations · WERN correlations
