VXZ vs WOOF: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Petco Health and Wellness Company, Inc. (WOOF) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WOOF?
On 3 years of weekly data the VXZ/WOOF correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.24 over 1 year against -0.23 over 3. The 5-year figure is -0.23, and annualized covariance runs at -497.7 %².
Within VXZ's tracked universe of 2840 assets, WOOF comes in at #230 by 3-year correlation. Neither side won the trailing year by much: -16.1% against -15.3%. Note the risk asymmetry: WOOF runs 3.3 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 WOOF: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WOOF (Petco Health and Wellness Company, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | -15.3% |
| 5-year return | -53.1% | -87.2% |
| Volatility (ann.) | 25.6% | 84.1% |
| Beta vs S&P 500 | -1.31 | 1.55 |
| Max drawdown (3Y) | -36.4% | -72.3% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 135.5 |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WOOF |
|---|---|---|
| 2022 | +0.5% | -52.1% |
| 2023 | -44.0% | -66.7% |
| 2024 | -12.7% | +20.6% |
| 2025 | +5.7% | -26.2% |
| 2026 | -10.5% | -3.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WOOF good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VXZ and WOOF?
The VXZ/WOOF correlation stands at -0.23 on a 3-year window (1 year: -0.24, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is WOOF a good diversifier for VXZ?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/vxz-vs-woof.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxz-vs-woof/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXZ correlations · WOOF correlations
