VXZ vs WSBF: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Waterstone Financial, Inc. (WSBF) carry a correlation of -0.48, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WSBF?
Over the past 3 years, VXZ and WSBF moved with a correlation of -0.48, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.28 versus -0.48 over 3 years. Over 5 years the correlation is -0.43, and the annualized covariance of weekly returns is -325.3 %².
Among the 2840 assets we track against VXZ, WSBF ranks #2442 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WSBF outperformed by 66.0 percentage points (-16.1% for VXZ against +49.9% for WSBF).
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 WSBF: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WSBF (Waterstone Financial, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | +49.9% |
| 5-year return | -53.1% | +33.3% |
| Volatility (ann.) | 25.6% | 26.2% |
| Beta vs S&P 500 | -1.31 | 0.61 |
| Max drawdown (3Y) | -36.4% | -26.5% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | 12.1 |
| Dividend yield | – | 3.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WSBF |
|---|---|---|
| 2022 | +0.5% | -15.8% |
| 2023 | -44.0% | -13.1% |
| 2024 | -12.7% | -0.9% |
| 2025 | +5.7% | +28.8% |
| 2026 | -10.5% | +30.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WSBF good diversifiers for each other?
Yes. With a correlation of -0.48, VXZ and WSBF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXZ and WSBF?
The VXZ/WSBF correlation stands at -0.48 on a 3-year window (1 year: -0.28, 5 years: -0.43), computed from weekly returns as of 2026-08-27.
Is WSBF a good diversifier for VXZ?
Yes. With a correlation of -0.48, VXZ and WSBF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.48 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-wsbf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxz-vs-wsbf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VXZ correlations · WSBF correlations
