VXZ vs WOR: Correlation
How closely do iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Worthington Enterprises, Inc. (WOR) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WOR?
On 3 years of weekly data the VXZ/WOR correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.20 over 1 year against -0.29 over 3. The 5-year figure is -0.39, and annualized covariance runs at -256.0 %².
Among the 2840 assets we track against VXZ, WOR ranks #856 by 3-year correlation. Twelve-month performance is nearly a tie, at -16.1% for VXZ and -13.1% for WOR.
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 WOR: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WOR (Worthington Enterprises, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | -13.1% |
| 5-year return | -53.1% | +73.3% |
| Volatility (ann.) | 25.6% | 34.7% |
| Beta vs S&P 500 | -1.31 | 0.83 |
| Max drawdown (3Y) | -36.4% | -42.4% |
| Market cap | – | $2.8B |
| P/E (trailing) | – | 18.5 |
| Dividend yield | – | 1.31% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WOR |
|---|---|---|
| 2022 | +0.5% | -6.9% |
| 2023 | -44.0% | +91.6% |
| 2024 | -12.7% | -29.3% |
| 2025 | +5.7% | +30.3% |
| 2026 | -10.5% | +12.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WOR good diversifiers for each other?
Yes. With a correlation of -0.29, VXZ and WOR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXZ and WOR?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.20 over the last year and -0.39 over 5 years.
Is WOR a good diversifier for VXZ?
Yes. With a correlation of -0.29, VXZ and WOR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
A reading of -0.29 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-wor.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/vxz-vs-wor/)
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Hubs: VXZ correlations · WOR correlations
