VXZ vs WFC: Correlation
How closely do iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Wells Fargo (WFC) trade together? Their weekly returns over three years give a correlation of -0.55, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WFC?
Over the past 3 years, VXZ and WFC moved with a correlation of -0.55, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.40) than the 3-year average (-0.55). Over 5 years the correlation is -0.55, and the annualized covariance of weekly returns is -416.6 %².
Among the 2840 assets we track against VXZ, WFC ranks #2679 by 3-year correlation. The last year tells two different stories: WFC led by 21.3 percentage points, -16.1% for VXZ against +5.2% for WFC.
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 WFC: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WFC (Wells Fargo) | |
|---|---|---|
| 1-year return | -16.1% | +5.2% |
| 5-year return | -53.1% | +98.3% |
| Volatility (ann.) | 25.6% | 29.7% |
| Beta vs S&P 500 | -1.31 | 0.98 |
| Max drawdown (3Y) | -36.4% | -24.7% |
| Market cap | – | $256.9B |
| P/E (trailing) | – | 12.4 |
| Dividend yield | – | 2.11% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | VXZ | WFC |
|---|---|---|
| 2022 | +0.5% | -11.9% |
| 2023 | -44.0% | +22.9% |
| 2024 | -12.7% | +46.5% |
| 2025 | +5.7% | +35.6% |
| 2026 | -10.5% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WFC good diversifiers for each other?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VXZ and WFC?
Using weekly returns as of 2026-08-27: -0.55 over 3 years, with -0.40 over the last year and -0.55 over 5 years.
Is WFC a good diversifier for VXZ?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.55 mean?
A reading of -0.55 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: VXZ correlations · WFC correlations
