VXZ vs WFRD: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Weatherford International plc (WFRD) carry a correlation of -0.41, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WFRD?
On 3 years of weekly data the VXZ/WFRD correlation comes out at -0.41, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.17) than the 3-year average (-0.41). The 5-year figure is -0.31, and annualized covariance runs at -485.6 %².
Among the 2840 assets we track against VXZ, WFRD ranks #2013 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WFRD ahead by 62.2 points (-16.1% versus +46.1%). One caveat on sizing: WFRD is 1.8 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 WFRD: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WFRD (Weatherford International plc) | |
|---|---|---|
| 1-year return | -16.1% | +46.1% |
| 5-year return | -53.1% | +495.5% |
| Volatility (ann.) | 25.6% | 46.3% |
| Beta vs S&P 500 | -1.31 | 1.32 |
| Max drawdown (3Y) | -36.4% | -70.6% |
| Market cap | – | $6.6B |
| P/E (trailing) | – | 17.4 |
| Dividend yield | – | 1.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WFRD |
|---|---|---|
| 2022 | +0.5% | +83.7% |
| 2023 | -44.0% | +92.1% |
| 2024 | -12.7% | -26.4% |
| 2025 | +5.7% | +11.1% |
| 2026 | -10.5% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WFRD good diversifiers for each other?
Yes. With a correlation of -0.41, VXZ and WFRD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXZ and WFRD?
Using weekly returns as of 2026-08-27: -0.41 over 3 years, with -0.17 over the last year and -0.31 over 5 years.
Is WFRD a good diversifier for VXZ?
Yes. With a correlation of -0.41, VXZ and WFRD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 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-wfrd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxz-vs-wfrd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXZ correlations · WFRD correlations
