VXZ vs WEYS: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Weyco Group, Inc. (WEYS) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WEYS?
Over the past 3 years, VXZ and WEYS moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -296.1 %².
Among the 2840 assets we track against VXZ, WEYS ranks #1282 by 3-year correlation. The last year tells two different stories: WEYS led by 75.8 percentage points, -16.1% for VXZ against +59.7% for WEYS.
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 WEYS: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WEYS (Weyco Group, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | +59.7% |
| 5-year return | -53.1% | +157.8% |
| Volatility (ann.) | 25.6% | 35.3% |
| Beta vs S&P 500 | -1.31 | 1.01 |
| Max drawdown (3Y) | -36.4% | -29.0% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | 12.5 |
| Dividend yield | – | 2.43% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WEYS |
|---|---|---|
| 2022 | +0.5% | -8.3% |
| 2023 | -44.0% | +54.0% |
| 2024 | -12.7% | +30.4% |
| 2025 | +5.7% | -10.5% |
| 2026 | -10.5% | +49.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WEYS good diversifiers for each other?
Yes. With a correlation of -0.33, VXZ and WEYS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXZ and WEYS?
As of 2026-08-27, the correlation of weekly returns between VXZ and WEYS is -0.33 over 3 years, -0.31 over 1 year and -0.33 over 5 years.
Is WEYS a good diversifier for VXZ?
Yes. With a correlation of -0.33, VXZ and WEYS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 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-weys.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/vxz-vs-weys/)
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Related comparisons
Hubs: VXZ correlations · WEYS correlations
