VXZ vs WH: Correlation
How closely do iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Wyndham Hotels & Resorts, Inc. (WH) trade together? Their weekly returns over three years give a correlation of -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WH?
Across a 3-year window, the weekly returns of VXZ and WH correlate at -0.37, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.37 lands near the 3-year figure. Stretching to 5 years gives -0.43, with an annualized covariance of -245.8 %².
Among the 2840 assets we track against VXZ, WH ranks #1638 by 3-year correlation. Their 12-month results are close: -16.1% for VXZ against -11.6% for WH.
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 WH: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WH (Wyndham Hotels & Resorts, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | -11.6% |
| 5-year return | -53.1% | +15.6% |
| Volatility (ann.) | 25.6% | 25.8% |
| Beta vs S&P 500 | -1.31 | 0.72 |
| Max drawdown (3Y) | -36.4% | -37.2% |
| Market cap | – | $5.7B |
| P/E (trailing) | – | 27.8 |
| Dividend yield | – | 2.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WH |
|---|---|---|
| 2022 | +0.5% | -19.1% |
| 2023 | -44.0% | +14.9% |
| 2024 | -12.7% | +27.7% |
| 2025 | +5.7% | -23.5% |
| 2026 | -10.5% | +2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WH good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between VXZ and WH?
The VXZ/WH correlation stands at -0.37 on a 3-year window (1 year: -0.37, 5 years: -0.43), computed from weekly returns as of 2026-08-27.
Is WH a good diversifier for VXZ?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 mean?
On the −1 to +1 scale, -0.37 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-wh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxz-vs-wh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VXZ correlations · WH correlations
