VXZ vs WILC: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and G. Willi-Food International, Ltd. (WILC) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WILC?
Over the past 3 years, VXZ and WILC moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.14 over 1 year against -0.22 over 3. Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -202.3 %².
Within VXZ's tracked universe of 2840 assets, WILC comes in at #163 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WILC ahead by 56.9 points (-16.1% versus +40.8%).
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 WILC: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WILC (G. Willi-Food International, Ltd.) | |
|---|---|---|
| 1-year return | -16.1% | +40.8% |
| 5-year return | -53.1% | +69.9% |
| Volatility (ann.) | 25.6% | 36.7% |
| Beta vs S&P 500 | -1.31 | 0.54 |
| Max drawdown (3Y) | -36.4% | -30.6% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | 16.1 |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WILC |
|---|---|---|
| 2022 | +0.5% | -26.1% |
| 2023 | -44.0% | -17.5% |
| 2024 | -12.7% | +62.6% |
| 2025 | +5.7% | +86.6% |
| 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 WILC good diversifiers for each other?
Yes. With a correlation of -0.22, VXZ and WILC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXZ and WILC?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.14 over the last year and -0.26 over 5 years.
Is WILC a good diversifier for VXZ?
Yes. With a correlation of -0.22, VXZ and WILC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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-wilc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxz-vs-wilc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXZ correlations · WILC correlations
