VXZ vs WNEB: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Western New England Bancorp, Inc. (WNEB) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WNEB?
Over the past 3 years, VXZ and WNEB moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -306.3 %².
Within VXZ's tracked universe of 2840 assets, WNEB comes in at #1639 by 3-year correlation. The last year tells two different stories: WNEB led by 28.0 percentage points, -16.1% for VXZ against +11.9% for WNEB.
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 WNEB: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WNEB (Western New England Bancorp, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | +11.9% |
| 5-year return | -53.1% | +85.9% |
| Volatility (ann.) | 25.6% | 32.1% |
| Beta vs S&P 500 | -1.31 | 0.66 |
| Max drawdown (3Y) | -36.4% | -33.3% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 16.5 |
| Dividend yield | – | 2.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WNEB |
|---|---|---|
| 2022 | +0.5% | +11.0% |
| 2023 | -44.0% | -1.1% |
| 2024 | -12.7% | +6.0% |
| 2025 | +5.7% | +40.9% |
| 2026 | -10.5% | +10.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WNEB 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 WNEB?
As of 2026-08-27, the correlation of weekly returns between VXZ and WNEB is -0.37 over 3 years, -0.28 over 1 year and -0.33 over 5 years.
Is WNEB 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-wneb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/vxz-vs-wneb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXZ correlations · WNEB correlations
