VXZ vs WKC: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and World Kinect Corporation (WKC) carry a correlation of -0.40, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WKC?
Over the past 3 years, VXZ and WKC moved with a correlation of -0.40, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.09) runs above the 3-year figure (-0.40). Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -317.8 %².
By 3-year correlation, WKC places #1921 of the 2840 assets tracked against VXZ. Correlation aside, the last 12 months split them widely, with WKC ahead by 52.6 points (-16.1% versus +36.5%).
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 WKC: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WKC (World Kinect Corporation) | |
|---|---|---|
| 1-year return | -16.1% | +36.5% |
| 5-year return | -53.1% | +26.9% |
| Volatility (ann.) | 25.6% | 31.0% |
| Beta vs S&P 500 | -1.31 | 0.78 |
| Max drawdown (3Y) | -36.4% | -25.4% |
| Market cap | – | $1.8B |
| P/E (trailing) | – | – |
| Dividend yield | – | 2.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WKC |
|---|---|---|
| 2022 | +0.5% | +5.3% |
| 2023 | -44.0% | -14.6% |
| 2024 | -12.7% | +23.8% |
| 2025 | +5.7% | -12.3% |
| 2026 | -10.5% | +55.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WKC good diversifiers for each other?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VXZ and WKC?
As of 2026-08-27, the correlation of weekly returns between VXZ and WKC is -0.40 over 3 years, -0.09 over 1 year and -0.39 over 5 years.
Is WKC a good diversifier for VXZ?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.40 mean?
On the −1 to +1 scale, -0.40 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-wkc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/vxz-vs-wkc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXZ correlations · WKC correlations
