VXZ vs WFG: Correlation
How closely do iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and West Fraser Timber Co. Ltd (WFG) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WFG?
Over the past 3 years, VXZ and WFG moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.26 lands near the 3-year figure. Over 5 years the correlation is -0.27, and the annualized covariance of weekly returns is -187.0 %².
Within VXZ's tracked universe of 2840 assets, WFG comes in at #549 by 3-year correlation. Over the last 12 months WFG came out ahead by 12.5 percentage points (-16.1% against -3.6%).
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 WFG: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WFG (West Fraser Timber Co. Ltd) | |
|---|---|---|
| 1-year return | -16.1% | -3.6% |
| 5-year return | -53.1% | -6.2% |
| Volatility (ann.) | 25.6% | 28.1% |
| Beta vs S&P 500 | -1.31 | 0.63 |
| Max drawdown (3Y) | -36.4% | -42.0% |
| Market cap | – | $5.4B |
| P/E (trailing) | – | – |
| Dividend yield | – | 1.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WFG |
|---|---|---|
| 2022 | +0.5% | -23.1% |
| 2023 | -44.0% | +20.3% |
| 2024 | -12.7% | +2.6% |
| 2025 | +5.7% | -28.8% |
| 2026 | -10.5% | +14.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WFG good diversifiers for each other?
Yes. With a correlation of -0.26, VXZ and WFG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXZ and WFG?
The VXZ/WFG correlation stands at -0.26 on a 3-year window (1 year: -0.26, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is WFG a good diversifier for VXZ?
Yes. With a correlation of -0.26, VXZ and WFG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/vxz-vs-wfg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/vxz-vs-wfg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VXZ correlations · WFG correlations
