VXZ vs WSBC: Correlation
How closely do iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and WesBanco, Inc. (WSBC) trade together? Their weekly returns over three years give a correlation of -0.47, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WSBC?
Across a 3-year window, the weekly returns of VXZ and WSBC correlate at -0.47, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.38 over 1 year against -0.47 over 3. Stretching to 5 years gives -0.44, with an annualized covariance of -343.5 %².
By 3-year correlation, WSBC places #2395 of the 2840 assets tracked against VXZ. The last year tells two different stories: WSBC led by 44.7 percentage points, -16.1% for VXZ against +28.6% for WSBC.
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 WSBC: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WSBC (WesBanco, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | +28.6% |
| 5-year return | -53.1% | +48.2% |
| Volatility (ann.) | 25.6% | 28.3% |
| Beta vs S&P 500 | -1.31 | 0.77 |
| Max drawdown (3Y) | -36.4% | -26.9% |
| Market cap | – | $3.9B |
| P/E (trailing) | – | 11.5 |
| Dividend yield | – | 3.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WSBC |
|---|---|---|
| 2022 | +0.5% | +9.9% |
| 2023 | -44.0% | -10.9% |
| 2024 | -12.7% | +8.8% |
| 2025 | +5.7% | +7.0% |
| 2026 | -10.5% | +24.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WSBC good diversifiers for each other?
Yes. With a correlation of -0.47, VXZ and WSBC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXZ and WSBC?
Using weekly returns as of 2026-08-27: -0.47 over 3 years, with -0.38 over the last year and -0.44 over 5 years.
Is WSBC a good diversifier for VXZ?
Yes. With a correlation of -0.47, VXZ and WSBC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.47 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/vxz-vs-wsbc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxz-vs-wsbc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXZ correlations · WSBC correlations
