VXZ vs WMB: Correlation
iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Williams Companies (WMB) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WMB?
Across a 3-year window, the weekly returns of VXZ and WMB correlate at -0.27, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.13 versus -0.27 over 3 years. Stretching to 5 years gives -0.29, with an annualized covariance of -165.3 %².
By 3-year correlation, WMB places #659 of the 2840 assets tracked against VXZ. Correlation aside, the last 12 months split them widely, with WMB ahead by 49.2 points (-16.1% versus +33.1%).
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 WMB: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WMB (Williams Companies) | |
|---|---|---|
| 1-year return | -16.1% | +33.1% |
| 5-year return | -53.1% | +279.9% |
| Volatility (ann.) | 25.6% | 24.0% |
| Beta vs S&P 500 | -1.31 | 0.34 |
| Max drawdown (3Y) | -36.4% | -12.4% |
| Market cap | – | $90.7B |
| P/E (trailing) | – | 29.7 |
| Dividend yield | – | 2.76% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | VXZ | WMB |
|---|---|---|
| 2022 | +0.5% | +32.8% |
| 2023 | -44.0% | +11.9% |
| 2024 | -12.7% | +62.3% |
| 2025 | +5.7% | +14.9% |
| 2026 | -10.5% | +25.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WMB good diversifiers for each other?
Yes. With a correlation of -0.27, VXZ and WMB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXZ and WMB?
As of 2026-08-27, the correlation of weekly returns between VXZ and WMB is -0.27 over 3 years, 0.13 over 1 year and -0.29 over 5 years.
Is WMB a good diversifier for VXZ?
Yes. With a correlation of -0.27, VXZ and WMB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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.
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Related comparisons
Hubs: VXZ correlations · WMB correlations
