VXZ vs WHR: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Whirlpool Corporation (WHR) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WHR?
On 3 years of weekly data the VXZ/WHR correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.41) runs below the 3-year figure (-0.30). The 5-year figure is -0.34, and annualized covariance runs at -345.8 %².
Within VXZ's tracked universe of 2840 assets, WHR comes in at #965 by 3-year correlation. The last year tells two different stories: VXZ led by 40.4 percentage points, -16.1% for VXZ against -56.5% for WHR. Note the risk asymmetry: WHR runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 WHR: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WHR (Whirlpool Corporation) | |
|---|---|---|
| 1-year return | -16.1% | -56.5% |
| 5-year return | -53.1% | -77.3% |
| Volatility (ann.) | 25.6% | 45.6% |
| Beta vs S&P 500 | -1.31 | 1.09 |
| Max drawdown (3Y) | -36.4% | -71.1% |
| Market cap | – | $2.6B |
| P/E (trailing) | – | 13.1 |
| Dividend yield | – | 6.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WHR |
|---|---|---|
| 2022 | +0.5% | -37.2% |
| 2023 | -44.0% | -9.1% |
| 2024 | -12.7% | +0.6% |
| 2025 | +5.7% | -33.0% |
| 2026 | -10.5% | -44.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WHR good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VXZ and WHR?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.41 over the last year and -0.34 over 5 years.
Is WHR a good diversifier for VXZ?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 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-whr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/vxz-vs-whr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXZ correlations · WHR correlations
